The government plans to build multimodal logistic parks at 15 places across the country with an investment of Rs 33,000 crore in a bid to bring down costs incurred on logistcs.
The NHAI signed an MoU with the Tamil Nadu Industrial Development Corporation Ltd (TIDCO) in New Delhi today, for the development of a multimodal logistics park in the Ponneri Industrial Node area near Kamarajar Port in Tamil Nadu.
The MoU was signed in the presence of Union Road Transport and Highways and Shipping Minister Nitin Gadkari and Tamil Nadu's minister for industries M C Sampath.
Speaking on this occasion, Gadkari said that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.
The Ministry of Road Transport and Highways is planning to develop mutimodal logistics parks under its Logistics Efficiency Enhancement Programme (LEEP) in 15 locations all over India at a cost of Rs 33,000 crore, including Rs 1,295 crore investment for the Chennai region.
The proposed logistics parks will bring down the overall freight costs, reduce vehicular pollution and congestion and will enable reduction of warehousing costs.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)