DMIC, NEC Corp of Japan ink pact on logistics data bank

Delhi Mumbai Industrial Corridor (DMIC) Trust and NEC Corporation of Japan have inked a shareholders agreement to form a special purpose vehicle for setting up a logistics data bank.
It is aimed at reducing logistics cost, removing bottlenecks for faster development of the sector and ensuring information on a real-time basis, DMIC Trust said in a statement.
The agreement was signed by Alkesh Sharma, CEO, DMIC Trust and Hiroshi Hashimoto, General Manager, NEC Corporation.
"DMIC Trust and NEC Corporation of Japan have inked a shareholders agreement to form a SPV with 50:50 equity participation for setting up a logistic data bank," it said.

Sharma said the project would help in informed decision making, create a competitive environment across logistics industry, provide better governance and introduce complete transparency and visibility with option for performance evaluation of ports, inland container depots and truckers.
"This project would be an overarching solution that will integrate the information available with various agencies across the supply chain to provide detailed real time information within a single window," the statement quoted Sharma as saying.

The project has been developed after consultations with the stakeholders and support from Ministry of Shipping, Jawaharlal Nehru Port Trust, Ministry of Railways, Tariff Authority for Major Ports, National Highway Authority of India (NHAI) and Director General for Foreign Trade (DGFT).

"This would enable the central and state governments, importers, exporters and other stakeholders to assess comparative performance and identify inefficiencies and bottlenecks to develop strategies for faster development of the sector," he added.
India's ambitious USD 90 billion DMIC project is aimed at creating a mega industrial infrastructure along the Delhi-Mumbai Rail Freight Corridor, which is under implementation.
Japan is giving financial and technical aid for the project, which will cover seven states, totalling 1,483 km.