CHENNAI: The State government on Tuesday signed a memorandum of understanding (MoU) for developing a multi-modal logistics park (MMLP) at an investment of Rs 1,200 crore in Mappedu village in Tiruvallur district.
The project, which will come up on 158 acres, is the first such one to be established in the State and it will facilitate employment opportunities to about 10,000 youth, Chief Minister MK Stalin said. Union Minister for Road Transport and Highways Nitin Gadkari, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and Minister of State for Road Transport and Highways VK Singh, took part in the virtual event.
The project gains significance as a an MoU is likely to be signed for Rs 5,965 crore Chennai Port-Maduravoyal double-decker road project, with a proposed length of 20.5 km. Chennai Port Trust Chairman Sunil Paliwal told TNIE that it is one of the 35 such multi-modal parks which the Union government wants to develop.
“It will have warehousing, road and rail connectivity. Three entities are coming together. Chennai Port Trust, National Highway Logistics Management Limited, a special purpose vehicle (SPV) of National Highways Authority India, and the TN Industrial Development Corporation,” said Paliwal.
He said Chennai Port will contribute Rs 167 crore for 121 acres of land, TIDCO will give Rs 50 crore. And to make this land contiguous, some 36 acres needs to be acquired. “TIDCO will acquire the land and money will be paid by National Highway Logistics Management Limited Company. NHAI will construct a road which will be linked to the NH. This will involve an investment of Rs 130 crore,” said Paliwal.
“Later, Indian Railways would put the railway line. Part of which will be equity or part of which will be a Special Purpose Vehicle, which we will have to pay. The total investment envisaged by these entities put together is around Rs 600 crore,” said Paliwal.
“This SPV will select a public private partnership operator. This PPP operator is expected to bring around Rs 600 crore,” said Paliwal while giving break-up of Rs 1200 crore. The project will be situated in close proximity to Sriperumbudur, Pillaipakkam and Oragadam where there are several industries.
It will be close to the CPRR (Chennai Peripheral Ring Road), airport and sea ports and would have numerous facilities including freight terminal with rail and road links, storage facility, besides machinery to handle cargo.