ChPT in talks for RVNL to participate in SPV for multimodal logistics park

The Chennai Port Trust (ChPT) is in talks with the Rail Vikas Nigam Ltd (RVNL), a public sector enterprise under the Ministry of Railways, to participate in the Special Purpose Vehicle (SPV) for implementing the ₹1,045-crore multi-modal logistics park (MMLP) at Mappedu in Tiruvallur near Chennai.

The MMLP is among the first to be chosen for the implementation under the Centre’s grand scheme of Bharatmala Pariyojna. Under this scheme, 35 such MMLPs are planned across India to enhance logistics efficiency and reduce cost, said Sunil Paliwal, Chairman & Managing Director of Kamarajar Port Trust who is also holding additional charge as chairman of ChPT.

An MoU for the MMLP at Mappedu was signed on Tuesday among the ChPT; the Tamil Nadu government (through Tidco) and the National Highways Authority of India (National Highways Management Ltd).

While the four equity shareholders, including RVNL, will bring in a total of ₹600 crore in the SPV, the private player who will develop the park will bring an equal amount. The capital contribution of the RVNL will be treated as equity in the SPV, he added.

The SPV will select a concessionaire/ contractor through competitive bidding for the development and operation of the MMLP, said Paliwal while briefing the media on the PM Gati Shakti initiative launched by Prime Minister Narendra Modi on Wednesday.

The MMLP, which will be developed over 158 acres of land, will have road and rail connectivity. It will act as a logistic aggregation/disaggregation point for various forms of cargo across different transportation modes. It will provide large-scale warehousing and cold storage facility with provisions for value-added services like packaging and labelling.

The logistics park will be a one-stop solution for all services related to cargo movement, including cross-docking, container stackyard, custom clearance, testing facilities, documentation and weighbridges. Various amenities, including truck parking, will also be provided, he said.

The ChPT will hand over the 121.74 acres of port trust land to the SPV; the State will contribute ₹50 crore to the SPV. An additional area of 36.23 acres adjacent to the port trust land will be acquired by the NHAI, which will also bear the cost of the road connectivity project.

A new railway siding will be developed at the MMLP to provide rail connectivity from the nearest rail head near Kadambattur for a length of about 12 km, he said.