MMLP projects to unlock potential of logistics sector

Hyderabad: Global real estate consulting firm CBRE South Asia Pvt Ltdhas been appointed as the advisor for the development of Multi-modal Logistics Parks (MMLPs) across five key locations including Mumbai, Chennai, Silchar, Coimbatore and Hyderabad. These projects are a part of Prime Minister's Bharatmala Pariyojana programme.

The 35 MMLP projects are likely to create over 2 lakh job opportunities in the coming years and reduce logistics cost by a notable margin. Currently, more than 70 per cent of the national cargo moves through roads and national highways causing pollution and stress on the roads. These MMPLs will help in bringing the logistics costs down from the present 13-14 per cent of India's GDP to 8-10 per cent, a benchmark achieved by developed economies such as Japan and the EU. This initiative aims totransform the Indian infrastructure and logistics landscape by bringing greater efficiencies and eliminating operational redundancies.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE said, "The GOI's commitment towards enhancing the efficiency of multi-modal Infrastructure connectivity in the country underpins its larger vision towards a strengthened and vibrant economic and business ecosystem. This project will boost the national economy by easing and encouraging seamless exports. Our global understanding and niche expertise in this segment will help in providing necessary support and counsel on projects of such scale and magnitude."

Preetham Mehra, Senior Executive Director & Head - Government Practice, CBRE India said, "CBRE India has led numerous public – private collaborations by leveraging our global expertise. MMLP is another such initiative that involves nuanced understanding and specialised knowledge of the logistics sector."