Don’t miss the latest developments in business and finance.

Development of Multi-Modal Logistic Parks under Sagarmala Programme to benefit containerized cargo movement in India

Image
Capital Market
Last Updated : Jul 05 2016 | 9:13 AM IST
As part of the National Perspective Plan, prepared under the Sagarmala Programme of the Ministry of Shipping, 7 Multi-Modal Logistic Parks (MMLPs) were proposed in Madhya Pradesh, Chhattisgarh, Rajasthan, Odisha, Telangana, Uttarakhand and West Bengal. The potential sites were identified based on comprehensive study of the container cargo movement across the country and are located in the proximity of important industrial clusters. This will be advantageous for the transportation of containerized cargo.

Taking this forward, Container Corporation of India (CONCOR) has informed that domestic operations have already commenced at 1 MMLP in Pantnagar (Uttarakhand) and MMLPs at 4 proposed locations - Nagulapally (Telangana), Siliguri (West Bengal), Naya Raipur (Chhattisgarh) and Jharsuguda (Odisha), which are under development stage. For the other 2 locations - North Madhya Pradesh / Chhattisgarh border (Singrauli) and Nagaur (Rajasthan), action will be initiated with a detailed area-wise analysis.

While the MMLPs in Telangana, Odisha, Chhattisgarh, and Uttarakhand, are being developed by CONCOR, the MMLP in West Bengal is being developed under PPP mode. At Nagulapally (Telangana), 16 acre of the proposed 60 acre MMLP is being developed at a total investment of Rs.120 Crore. The MMLP at Jharsuguda (Odisha) is under construction over an area of 27.41 acre with an investment of Rs.100 Crore. In Raipur (Chhattisgarh), the MMLP is under construction in an area of 103 acre with an investment of Rs.207 Crore. The MMLP in Uttarakhand has been commissioned at Pantnagar with an investment of Rs.120 crore in a joint venture between CONCOR and SIIDCUL (State Infrastructure Industrial Development Corporation of Uttarakhand)

For the other 2 proposed MMLPs in Rajasthan (Nagaur) and Madhya Pradesh/Chhattisgarh (Singrauli), detailed traffic assessment would be conducted to assess the potential of the multimodal hubs.

Sagarmala is the flagship programme of the Ministry of Shipping for promoting port-led development in India. It aims to achieve capacity expansion and modernization of sea-ports along India's coastline, enhance port connectivity to the hinterland, facilitate port led- industrialisation to promote trade and sustainable development of coastal communities. The National Perspective Plan (NPP) prepared under Sagarmala Programme was released in April 2016 by the Prime Minister. More than 150 projects have been identified which will mobilize investment of over Rs. 4 lac Crore and generate close to 1 Crore new jobs, including 40 lac direct jobs, over a period of 10 years. These projects are expected to generate annual logistics cost savings of close to Rs 35,000 Crore and provide boost to India's merchandise exports by $110 billion by 2025.

Powered by Capital Market - Live News

Also Read

First Published: Jul 05 2016 | 8:16 AM IST

Next Story