Reliance Industries Ltd (RIL) and Prakash Asphaltings & Toll Highways (India) Ltd (PATH India) have put their competitive bids for the development of an approximately `1,800-crore multi-modal logistics park (MMLP) in Bengaluru.
Currently open, the bids are under evaluation, and officials privy to the development informed.
The minimum guaranteed revenue share offered to the Centre is the parameter for awarding of MMLPs — large cargo handling facilities with specialized storage like temperature-controlled warehouses and inter-modal transfer container terminal that connects it to multiple transport modes including railway and highways.
MMLPs are a key pillar of the National Logistics Policy that aims to bring down the cost of moving goods in the country. The 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.
PM Narendra Modi in September said the country must bring down the logistics cost for businesses from 13-14% to single digits.
