Reliance Industries will set up India’s first Multi-Modal Logistics Park in Chennai.
What’s it about? Mukesh Ambani-led Reliance Industries has secured the commission to build India’s first Multi-Modal Logistics Park (MMLP) in Chennai. It’s part of the central government’s Multi-Modal Logistics Park to set up 35 MMLPs, with 15 being prioritised in the next three years. A Special Purpose Vehicle (SPV) between various state and national departments has been set up to provide a four-lane highway and a new rail siding.
- The park will process 7.17 million metric tonnes of cargo over 45 years. It’ll be built in three phases with an overall investment of â‚ą1,424 crores.
- Phase 1 will be completed in 2025, when operations will begin. The site chosen is beneficial due to its proximity to the Ennore Port and Katupalli airport.
Broader plan: Similar parks will come up next in Bengaluru, Nagpur, and Indore. All the parks will be developed under a Public Private Partnership (PPP) model. They’ll serve as intermodal freight-handling facilities and have warehouses, cold chain facilities, and cargo terminals.