The Government of India has extended the concession period for its ambitious multimodal logistics parks (MMLPs) scheme from 30 to 45 years.
Key Highlights
- The move could attract more long-term investors seeking a share of India’s infrastructure story.
- The government has planned to build 35 such mega freight-and-transport hubs under its flagship Bharatmala scheme, aiming to smoothen freight mobility, improve efficiency and reduce logistics costs.
- The extended concession period, among the longest in the infrastructure sector, will help investors recoup their investment and generate surplus.
Multi Modal Logistics Parks
- The Union road ministry has mandated NHLML to execute MMLPs and implement connectivity, including links to ports.
- The Government has decided to set up as many as 35 Multi Modal Logistics Parks, at carefully chosen locations, at a total capital cost of Rs. 50,000 crore.
- The MMLPs have been conceptualized to enable seamless intermodal freight movement and offer multiple functionalities such as freight aggregation and distribution.
- Storage and warehousing solutions and value-added services such as custom clearances and IT services will also be provided to users.
- The parks will enable the shift from a point-to-point to a hub-and-spoke model in logistics sector, eventually helping us bring down logistics costs by at least half and enabling more efficient movement of new-generation vehicles.
- The Model Concession Agreement for MMLPs has been finalized and all MMLPs will be developed as part of the Design, Build Finance, Operate and Transfer (DBFOT) model.
GS TIMES UPSC PRELIMS & MAINS CURRENT AFFAIRS BASED BASICS DAILY ONLINE TEST CLICK HERE
CLICK HERE DAILY CURRENT AFFAIRS QUIZ FOR STATE CIVIL SERVICES
MORE THAN 30 QUESTIONS FORM GS TIMES UPSC 2022 PRELIMS CURRENT AFFAIRS DAILY TEST
