In order to centralise freight consolidation and lower logistics costs from 14% of GDP to less than 10% of GDP in line with worldwide standards, a tripartite agreement for the quick establishment of contemporary Multi Modal Logistics Parks (MMLP) under the Bharatmala project has been signed. National Highways Logistics Management Limited (NHLML), Inland Waterways Authority of India (IWAI), and Rail Vikas Nigam Limited inked the trilateral agreement (RVNL).
MMLP will be a freight handling facility with rail and road accessibility, comprising container terminals, cargo terminals (bulk, break-bulk), warehouses, cold storage, facilities for mechanised material handling, and value-added services such as customs clearance with bonded storage yards, quarantine zones, testing facilities, and warehousing management services etc. along with other associated facilities, according to a press release by India’s ministry of ports, shipping, and waterways. Developed under a ‘Hub & Spoke’ model, the MMLP will integrate multiple modes of freight transport through highways, railways, and inland waterways.
The agreement underlines the cooperation and collaboration model between the three bodies in order to achieve efficiency in logistics movement within the country.
