Categories: Business

Reliance Industries to make India’s first multimodal logistics park in Chennai

According to the Ministry of Road Transport and Highways (MoRTH), Reliance Industries Ltd (RIL) has been awarded the project to build India’s first multimodal logistics park (MMLP) in Chennai, Tamil Nadu. A crucial cog in the Centre’s logistics overhaul, the MMLP will be spread over 184 acres and cost Rs 1,424 crore. The project will get adequate connecting infrastructure support through a special purpose vehicle (SPV) formed between central and state agencies. RIL emerged as the winning bidder for the public-private-partnership (PPP) project, with its own investment pegged at Rs 783 crore. The Centre expects the first phase of the project to be completed in two years.

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About the project:

  • The project would likely be monitored by the highest levels of the government, as it falls under the high-priority list of projects inaugurated by Prime Minister Narendra Modi under the Centre’s project monitoring system. Moreover, it is one of the several flagship projects announced under the Bharatmala Project of MoRTH, which envisions the building of 35 such MMLPs.
  • The Centre plans to build 15 of these within the next two years. Under the National Logistics Policy (NLP) and PM-GatiShakti, it wants to bring down logistics costs to under 10 per cent of the GDP in a bid to make exports competitive and supply chains more efficient.

Important takeaways for all competitive exams:

  • Reliance Industries Limited (RIL) Founded: 8 May 1973;
  • Reliance Industries Limited (RIL) Founder: Dhirubhai Ambani;
  • Reliance Industries Limited (RIL) Headquarters: Mumbai, Maharashtra;
  • Reliance Industries Limited (RIL) CMD: Mukesh Ambani;
  • Reliance Industries Limited (RIL) Director: Nita Ambani.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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