The Tamil Nadu Industrial Development Corporation Limited (TIDCO) has signed a Memorandum of Understanding (MoU) with the National Highways Authority of India (NHAI) for the development of a Multimodal Logistics Park in the Pooneri Industrial Node area in Tamil Nadu.
Present at the occasion, the Minister of Road Transport and Highways and Shipping Nitin Gadkari said that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.
The Ministry is planning to develop Multimodal Logistics Parks in 15 locations under its Logistics Efficiency Enhancement Programme (LEEP) worth Rs 33,000 crore, including Rs 1295 crores investment for the Chennai Region, Bureaucracy Today has learnt.
The proposed logistics parks are expected to bring down the overall freight costs, reduce vehicular pollution and congestion and will enable reduction of warehousing costs. All this is expected to result in lower logistics costs.