Bidding for the proposed Multi-Modal Logistics Park (MMLP) in Chennai is probably going to close on August 10, as per authorities in the loop.
The bids will be assessed in no time and the first MMLP under the Bharatmala program will be granted by later this month, they said.
“After the award of the project, the private sector will invest around ₹782.58 crores for the Chennai MMLP. Bids for the Nagpur and Bengaluru MMLPs are expected to close soon too,” Prakash Gaur, the chief executive of National Highways Logistics Management Ltd (NHLML), told ET.
Gaur expressed bids for the MMLP in Bengaluru will close straightaway, followed by Nagpur.
The Bengaluru MMLP will require a venture of Rs 935.90 crore from the confidential area and will be granted in September.
The MMLP in Nagpur will require a private sector investment of Rs 599.39 crore and is expected to be awarded in October.
The bidders are competing on a minimum-guarantee revenue share.
A higher revenue commitment to NHLML boosts a bidder’s prospects of getting an MMLP project. This revenue will be payable three years after the award of the project.
Further, Gaur informed that the bids for the Indore MMLP will also be called soon.
NHLML is developing 35 logistic parks under the Bharatmala Pariyojana. The total estimated investment in MMLPs is about ₹70,000 crore.
An investment of ₹23,000 crores will be done by the government and its arms, while developers that are awarded the projects will spend Rs 46,000 crore.
Feasibility studies are in progress in Mumbai, Pune, Hyderabad, and Coimbatore.
It is also being initiated at Anantapur, Visakhapatnam, Jammu, Kanpur, and Bikdin/Jalna.
At peak capacity, the MMLPs are estimated to handle 700 million metric tonnes (MMT) of cargo.
NHLML shall ensure that a minimum four-lane paved road is provided to the MMLP within two years from the appointed date.
Rail connectivity in the form of a single-line rail siding to the MMLP is to be provided within four years.