The National Highways Logistics Management (NHLML) and Inland Waterways Authority of India (IWAI) on Tuesday signed a memorandum of understanding (MoU) to develop a state-of-the-art multi-modal logistics park (MMLP) in Varanasi, Uttar Pradesh.
The 150-acre park will integrate with the Eastern Dedicated Freight Corridor through a 5.1 km railway line from Jeonathpur Station and National Waterway-1 and is located 30 km from Lal Bahadur Shastri Airport, the ministry of road transport and highways said in a statement.
HLML is a subsidiary of MoRTH.
The logistics park is connected to NH7 via a 650m access road and is just 1.5 km from the NH7-NH2 junction.
“The project promises significant investment and employment opportunities, strengthening India’s logistics sector, enhancing trade efficiency, and driving economic growth,” the ministry said.
“This initiative is a testament to India’s commitment to developing its logistics sector and reinforcing its position as a global economic powerhouse,” it added.
The road transport and highways minister Nitin Gadkari aims to bring down the logistics cost in India to 9% in two years from the current 14-16%, aimed at making India products competitive in the global market.
The logistics cost in China is 8% and 12% in the US and European countries, making it difficult for Indian exports to compete in the global market.