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India's first multimodal logistics park will be built by RIL
The task of constructing Chennai, Tamil Nadu's first multimodal logistics park (MMLP) has been given to Reliance Industries (RIL). The MMLP, a key component of the Centre's reform of its logistics, will cover 184 acre and cost Rs 14.24 billion, according to the Ministry of Road Transport and Highways (MoRTH).
The ministry also stated that a special purpose vehicle (SPV) created by federal and state agencies will provide the project with necessary supporting infrastructure.
The SPV would build 5.4 km of 4-lane national highway access at an estimated cost of Rs 1,04 billion, as well as 10.5 km of new rail siding to the MMLP site, at an estimated cost of Rs 2.17 billion.
RIL, with an estimated investment of Rs 783 billion, was chosen as the successful bidder for the public-private partnership (PPP) project. The Centre anticipates that the project's initial phase will be finished in two years.
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