Three govt entities join hands for development of multi-modal logistics parks
Three public sector entities under various ministries of the central government have signed an MoU for the development of multi-modal logistics parks under the Bharatmala project.
Parties of the agreement :
MoU has been signed between National Highway Logistics Management Limited (NHLML), Inland Waterways Authority of India (IWAI) and Rail Vikas Nigam Limited (RVNL) for rapid development of Modern Multi Modal Logistics Park (MMLP).
NHLML is a special purpose vehicle of the National Highway Authority (NHAI) and IWAI is a statutory authority under the Ministry of Ports, Shipping and Waterways.
RVNL is a wholly-owned public sector enterprise under the railway ministry.
Objective of the agreement :
Centralise freight movement and reduce logistics cost from 14 percent of GDP to less than 10 per cent in line with international standards.
IMPORTANT FACTS -
- The agreement was signed in the presence of Union Ministers Nitin Gadkari and Sarbananda Sonowal.
This will provide seamless modal shift, MMLP will ensure that cargo is swapped or moved by waterways, dedicated freight corridors and road transport.
MMLPs will ensure that cargo is moved through waterways, dedicated freight corridors and road transport hubs.
MMLP will focus on technology driven implementation for a state-of-the-art freight management system.
Bharatmala Pariyojana :
It is a centrally-sponsored and funded Road and Highways project of the Government of India.
It was launched in July 2015.
Under the project the government intends to develop 83,677 km of highways and roads at an investment of around Rs 7 lakh crore over the next five years.
ADDITIONAL INFORMATION -
Components of Bharatmala Project :
Feeder Route or Inter Corridor
National Corridor Efficiency Improvement
Border Road and International Connectivity
Green Field Expressway
Balance NHDP Works
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