Union Road Ministry inks 34 pacts with Rs 2 lakh cr investment potential

Union Road Ministry has inked 34 MoUs with investment potential of over Rs 2 lakh crore.

Road Transport, Highways and Shipping Minister, Nitin Gadkari, said that the Ministry has tried to get States’ support, including those from the North-East, for multi-modal logistics parks, integrated check posts, land ports, improving port connectivity, and technology-led logistics efficiency improvement.

The National Highways Authority of India (NHAI) signed MoUs with Adani Logistics, Ascendas, Achievers Infra Solutions, Chennai Port Trust, Vishakapatnam Port Trust, Future Market Networks Ltd for developing multimodal logistics parks. Some MoUs such as the one with Ascendas include exploring investment opportunities in the multi-modal sector.

These multi-modal logistics parks are proposed to be developed on lease basis, with 20-year agreements allowing for a 10-year extension.

Image credit: financialexpress.com

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