CBRE South Asia, has been appointed as the advisor for the development of Multi-modal Logistics Parks- across five key locations including Mumbai, Chennai, Silchar, Coimbatore and Hyderabad.
A part of Prime Minister of India’s Bharatmala Pariyojana programme, the 35 MMLP projects is likely to create over 2 lakh job opportunities in the coming years and reduce logistics cost by a notable margin, from the present 13-14% of India’s GDP to 8-10%, a benchmark achieved by developed economies such as Japan and the EU.
This initiative aims to transform the Indian infrastructure and logistics landscape by bringing greater efficiencies and eliminating operational redundancies.
“The GOI’s commitment towards enhancing the efficiency of Multi-modal Infrastructure connectivity in the country underpins its larger vision towards a strengthened and vibrant economic and business ecosystem. This project will boost the national economy by easing and encouraging seamless exports,”Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE
CBRE is also assessing pre-feasibility for the development of MMLPs across multiple other locations.
“Our global understanding and niche expertise in this segment will help in providing necessary support and counsel on projects of such scale and magnitude. CBRE is consulting implementation agencies National Highways Authority of India (NHAI) and National Highways Infrastructure Development Corporation Limited (NHIDCL) for the development of MMLPs in Mumbai, Chennai, Silchar, Coimbatore and Hyderabad,” Magazine said.
While these MMLPs will have excellent connectivity, they will also provide state of art, value-added services such as international grade warehousing, cold storage, packaging and sorting areas, product assembly clusters, a commercial zone, and a dedicated customs window to accommodate a wide range of businesses and cargo consignments of various sizes.
“The MMLP will improve the country’s logistics sector by lowering overall freight costs and time, optimizing warehousing costs, reducing vehicular pollution & congestion, and improving the tracking and traceability of consignments. Along with the 5 projects currently assigned to CBRE, we look forward to many more opportunities of working with the implementing agencies,” saidPreetham Mehra, Senior Executive Director & Head – Government Practice, CBRE India