CHENNAI: The Rs 32,713 crore Ponneri Industrial Node, being developed by Japan Investment Cooperation Agency on Chennai-Bangalore Industrial Corridor, will now have a multi-modal logistics park developed by National Highway Authority of India (NHAI). The Centre is planning to invest Rs 1,295 crore in the logistics park in Chennai region.
A memorandum of understanding (MoU) to this effect was entered into by NHAI with Tamil Nadu Industrial Development Corporation on Monday. It was signed by Union Minister Nitin Gadkari and Tamil Nadu Industries Minister M C Sampath.
This comes in the wake of the ministry planing to develop Multimodal Logistics Parks under Logistics Efficiency Enhancement Programme in 15 locations in India at a cost of Rs 33,000 crore.
The proposed logistics park, coming near Kamarajar Port, would bring down the overall freight cost besides reducing vehicular pollution and congestion.