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Rail Vikas Nigam enters into MoU with NHAI

Capital Market 

For construction of multi-modal logistics parks across India

Rail Vikas Nigam has entered into a MoU with National Highways Authority of India (NHAI) represented by National Highways Logistics Management (NHLML), in connection with Construction of Multi Modal Logistics Parks across PAN India under Bharatmala Pariyojana.

Given the objectives of improving logistics efficiency for goods generating and aggregating from ports, hinterland and for the Country as a whole, RVNL and NHLML agreed to co-operate and collaborate with each other in achieving the objectives for development of MMLP Project in an integrated manner.

Role of RVNL will be for the design, planning, feasibility study, DPR, implementation and commissioning of the track connectivity work for MMLPs.

Separate MoUs and Agreements shall be drawn at appropriate stage for each MMLP which are planned at 35 locations in the Country. The idea is to provide state-of-the-art, large-scale warehousing facilities for different type of commodities by forming project specific SPV(s) on a "Hub and Spoke Model". This umbrella MoU shall be valid for five years and is extendable.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, September 07 2021. 18:07 IST