Thursday, July 25, 2024

NHAI Initiates Bidding for Multi-Modal Logistics Park in Nashik to Boost State’s Infrastructure

In a strategic move to fortify the state’s logistical infrastructure, the National Highways Authority of India (NHAI) has commenced the bidding process for constructing a Multi-Modal Logistics Park (MMLP) in Nashik. This project, valued at Rs 336.55 crore and located in Niphad taluka, will be undertaken by the National Highways Logistics Management Ltd. (NHLML), a special purpose vehicle of NHAI. Following the success of the inaugural MMLP in Nagpur, the Nashik logistics park will become the third of its kind in Maharashtra.

Adhering to the design-build-finance-operate-and-transfer (DBFOT) framework, the logistics park aims to enhance the efficiency of goods movements. Notably, Nashik’s MMLP is part of the broader initiative outlined in the PM Gati Shakti National Master Plan, where the Ministry of Road Transport and Highways envisions establishing 35 such multi-modal logistics parks across India.

Currently contributing to 50 per cent of the nation’s road freight movement, MMLPs play a crucial role in the government’s drive to reduce logistics costs to 8-9 per cent of the GDP. With logistics currently constituting 14 per cent of the GDP, this initiative seeks to bolster India’s global competitiveness.

To address the pressing need for improved logistics, contracts have already been granted for five MMLPs in various cities, including Nagpur, Chennai, Bengaluru, Indore, and Jogighopa. The ongoing development of the Jogighopa MMLP in Guwahati, Assam, underscores the commitment to establishing efficient logistics infrastructure, with a projected completion date later this year.

As NHAI continues to spearhead infrastructure projects, Nashik’s MMLP signifies another milestone in transforming the nation’s logistics landscape. The project’s estimated cost, strategic location, and adherence to the DBFOT model position it as a key player in Maharashtra’s logistics evolution. Stay tuned for more updates as Nashik leads the way in enhancing connectivity and streamlining logistics in the region.

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