Tripartite agreement signed for development of modern MMLP

A tripartite agreement has been signed for the swift development of modern multi modal logistics parks (MMLPs) acro­ss the country under the BharatmalaPariyojana. The agreement is between National Highways Logistics Ma­na­gement Limited, the Inland Waterways Authority of India and Rail Vikas Nig­am Limited. The objective is to centralise freight consolidation and reduce lo­gi­stics costs from 14 per cent to less than 10 per cent of the gross domestic product, on par with international standards. The MMLPs, develo­p­ed under a hub-and-spoke model, will integrate multiple modes of freight transport through highways, railways and inland waterways. The MMLP project aims to develop state-of-the-art large-scale warehousing facilities for different types of commodities, which will act as one-stop solutions for all services related to cargo movement. Further, MMLPs will focus on a te­ch­nology-driven implementation of state-of-the-art freight management systems.