Union Minister for Road Transport, Highways & Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari had said that his ministry would develop 35 Multi-modal Logistic Parks (MMLPs) in the country. The work for the preparation of detailed project report (DPR) and feasibility report was already ...
Union Minister for Road Transport, Highways & Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari had said that his ministry would develop 35 Multi-modal Logistic Parks (MMLPs) in the country. The work for the preparation of detailed project report (DPR) and feasibility report was already underway and special purpose vehicles (SPVs) would be formed for all these MMLPs, with professionally qualified CEOs being appointed for each separately, he added.
Gadkari was addressing at the foundation laying event for India鈥檚 first multi-modal logistic park at Jogighopa in Assam on October 20 through video conferencing. The Rs 6.93 billion-park would provide direct air, road, rail and waterways connectivity to stakeholders. The park is being developed under the ambitious Bharatmala Pariyojana of the government.
Gadkari informed that the initial report and master plan were ready for the 346-acre MMLP with Jawaharlal Nehru Port Trust (JNPT) in the Wardha Dry Port area of Nagpur. Feasibility reports were being prepared for the Bengaluru MMLP, Sangrur warehouse complex in Punjab, Surat, Mumbai, Indore, Patna, Hyderabad, Vijayawada and Coimbatore. A DPR was in the works for the MMLP near the Chennai port while studies were underway for the MMLPs in Pune and Ludhiana.
Twenty-two other MMLPs were proposed in Ahmedabad, Rajkot, Kandla, Vadodara, Ludhiana, Amritsar, Jullundur, Bhatinda, Hissar, Ambala, Kota, Jaipur, Jagatsinghpur, Sundarnagar, Delhi, Kolkata, Pune, Nashik, Panaji, Bhopal, Raipur and Jammu.
The Jogighopa MMLP, which is being developed on 317-acre land along the River Brahmaputra, is the first such facility in the country.
Gadkari said the first phase of construction was scheduled for completion by 2023. He informed that works worth Rs 2.80 billion had already been awarded, including Rs 1.71 billion for road construction, Rs 870 million for erecting the structure and Rs 230 million for railway lines. The construction work would commence from November. The minister also said the project would lead to the creation of direct and indirect jobs for nearly 2 million youth of the Northeastern state.
The minister added that the distance of 154 km between Jogighopa and Guwahati would be covered by making a four-lane road on this stretch. Besides, a 3-km rail line would connect Jogighopa station to the MMLP while another 3-km rail link would connect it to the inland waterways terminal (IWT). The road to the newly developed Rupsi airport would also be upgraded to four-lanes for easier connectivity.
He said the MMLP will have all the facilities like a warehouse, railway siding, cold storage, customs clearance house, yard facility, workshops, petrol pumps, truck parking, administrative building, boarding lodging, eating joints and a water treatment plant.
Assam Chief Minister Sarbananda Sonowal presided over the virtual function, which was attended by Union Ministers of State Dr. Jitendra Singh, Gen (Retd) Dr. VK Singh and Rameshwar Teli. Besides, ministers of the Assam government, members of parliament, MLAs and senior central and state government officials were also present on the occasion.
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..