Summit brings Rs.2 lakh-cr investment

    India Integrated Transport and Logistics Summit 2017
    The just concluded India Integrated Transport and Logistics Summit injected a major booster to improve multi-modal logistics as it brings investment commitment of Rs.2 lakh crore, Union Transport Minister said, adding that in the event, which resulted in inking 34 MoUs, the government 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. On this score, 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. Score of MoUs such as the one with Ascendas include exploring investment opportunities in the multi-modal sector were also signed. These logistics parks are proposed to be developed on lease basis, with 20-year agreements allowing for a 10-year extension. On improving port connectivity, the agreements signed included share purchase agreement between NHAI, Jawaharlal Nehru Port Trust (JNPT) and Mumbai JNPT Port Road Development Company to enable forex funding for the project. Also JN Port signed agreements with NHAI and Land Ports Authority of India and that Tractors India and Rivigo Services signed MoU for integrated fleet management solutions, he claimed.
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