A tripartite agreement was signed for swift development of modern Multi Modal Logistics Parks MMLP under Bharatmala Pariyojna across the country. The tripartite agreement was signed by National Highways Logistics Management Limited NHLML, Inland Waterways Authority of India IWAI, and Rail Vikas Nigam Limited RVNL.
The objective of the agreement is to centralize freight consolidation and reduce logistics costs from 14 percent to less than 10 percent of GDP at par with International Standards.
It will provide seamless modal shift, MMLPs will ensure that cargo is swapped or shifted from and to Waterways, Dedicated Freight Corridors, and Road Transport.
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.