Recently, the Special Purpose Vehicle (SPV) responsible for the development of the Multi Modal Logistics Park (MMLP) entered into an agreement with GR Logistics Park, the contracted developer. The goal is to develop the park in three phases, with the first phase expected to be completed by 2025, allowing commercial operations to begin.
Located near Pithampur in Dhar district, the MMLP covers an area of 255.17 acres and will be developed under the public-private partnership (PPP) model, specifically the design-build-finance-operate Transfer Model (DBFOT). The total estimated cost of the project is Rs 11.106 billion.
Pratul Sinha, Chief Executive of Madhya Pradesh Industrial Development Corporation (MPIDC), stated: “An agreement was signed with developer GR Logistics Park on Monday, providing for a 45-year concession period for the development and operation of the MMLP for the SPV. The project aims to improve logistics efficiency and multimodal connectivity in line with the vision of the PM Gati Shakti initiative.
The MMLP will create employment opportunities and encourage the growth of industrial activities.” The SPV consists of the National Highways Logistics Management (NHLML), Rail Vikas Nigam (RVNL) and the Madhya Pradesh Industrial Development Corporation (MPIDC).
The agreement was signed in the presence of Manish Singh, Chief Secretary of the Department of Industrial Policy and Investment Promotion, Prakash Gaur, CEO of NHLML, Ashish Jain, COO of NHLML, National Highways Authority of India (NHAI) and RNVL officials. and representatives of the concessionaire.
The MMLP is an integrated facility for handling various logistics activities and facilitating the distribution of goods for national and international transport across multiple modes of transport.
According to an official press release, the facility will handle 12.79 million tonnes (MMT) of cargo over a period of 45 years. It will greatly boost industrial development in nearby areas such as Indore, Ujjain, Dewas, Dhar, Pithampur, Khandwa and Barwani.