Reliance Industries Ltd (RIL) and Prakash Asphaltings & Toll Highways (India) Ltd have bid for developing an approximately `1,800-crore multi-modal logistics park in Bengaluru.
Reliance Industries Ltd (RIL) and Prakash Asphaltings & Toll Highways (India) Ltd (PATH India) have bid for developing an approximately `1,800-crore multi-modal logistics park (MMLP) in Bengaluru.
The bids have been opened and are being evaluated, officials privy to the development told ET. The minimum guaranteed revenue share offered to the Centre is the parameter for award of MMLPs — large cargo handling facilities with specialised storage like temperature-controlled warehouses and inter-modal transfer container terminal that connects it to multiple transport modes including railway and highways.
A key pillar of the National Logistics Policy that aims to bring down the cost of moving goods in the country, MMLPs are proposed to be executed through public private partnership (PPP) in the design, build, finance, operate, and transfer (DBFOT) mode under the Bharatmala Pariyojana scheme.
In September, Prime Minister Narendra Modi had said the country must bring down the logistics cost for businesses from 13-14% to single digits.
