The National Highways Authority of India today signed an MoU with the Tamil Nadu Industrial Development Corporation Limited for developing a multi-modal logistics park in Chennai.
The park will come up in Ponneri Industrial Node near Kamarajar Port. Highways and Shipping Minister Nitin Gadkari said in a press release that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.
The Ministry of Road Transport and Highways plans to develop such parks under its Logistics Efficiency Enhancement Programme (LEEP) in 15 locations at a cost of ₹33,000 crore, including ₹1,295 crore investment for the Chennai Region. The proposed parks will bring down the overall freight cost, reduce vehicular pollution and congestion and cut warehousing costs.