NHAI inks agreement to develop Rs. 1770-cr Multi Modal Logistics Park in Bengaluru
The National Highways Logistics Management Ltd (NHLML), a 100% owned company of NHAI, has signed an agreement for the development of Multi Modal Logistics Park (MMLP) in Bengaluru. The proposed project is to be developed under the Public Private Partnership (DBFOT) model at an estimated cost of Rs 1,770 crore. The MMLP is being developed in an area of 400 acre at Muddelinganahalli in Bengaluru rural district in Karnataka. The project is poised to become the first and largest MMLP ever implemented in the country under the PM Gati Shakti National Master Plan. The MMLP will be developed in three phases. The first phase is expected to be completed in two years. MMLP will cater to about 30 million metric tonnes (MMT) cargo by the end of concession period of 45 years and will give huge boost to the industrial zones in the catchment region such as Bengaluru and Tumkur. A Government SPV is incorporated between National Highways Logistics Management Ltd. (NHLML), Rail Vikas Nigam Limited (RVNL) and Karnataka Industrial Area Development Board (KIADB).