The Union Cabinet on Wednesday approved the exchange of Airports Authority of India's (AAI) land measuring 11.45 acres at Visakhapatnam Airport with an equivalent area offered by the Visakhapatnam Port Trust (VPT) for setting up of a multi-modal logistics park (MMLP) by Container Corporation of India (CONCOR) at Visakhapatnam.
The exchange of land measuring will be beneficial to both AAI and VPT. The land offered for exchange by VPT is in continuation to existing AAI land and will be useful for AAI in view of future developmental plans for Visakhapatnam Airport.
The setting up of Multi Modal Logistics Park and other customer related facilities by CONCOR will also help in substantial development of Andhra Pradesh by enhancing the cargo handling capacity and development of an integrated rail-road logistics hub, thus facilitating a boost in the economy and trade of the State.
Container Corporation of India (CONCOR), a Public Sector Undertaking under the Ministry of Railways, is setting up a Multi Modal Logistics Park (MMLP) near Visakhapatnam on premises of approximately 98 acres taken on lease from the Visakhapatnam Port Trust (VPT), which is a port handling trust under the Ministry of Shipping.
Handing over the full extent of 98 acres for the CONCOR project involves exchange of 11.45 acres between VPT and AAI.
