Indore: Development work of Multi Modal logistic park to begin by end of 2024

Indore: Development work of Multi Modal logistic park to begin by end of 2024

Posted: Nov 19, 2024, 08:55 IST

MMLP is being established in a PPP (DBFOT) mode across 112.6 hectares near Pithampur in Dhar district, encompassing 90 hectare of private land from four villages and 22 hectares of government land.

INDORE : The development work at the proposed Multi Modal Logistic Park (MMLP) in Pithampur is anticipated to commence by the end of 2024 as ....

.... Madhya Pradesh Industrial Development Corporation (MPIDC) has acquired possession of the entire designated 112.6 hectare for establishing the facility.

MMLP is being established in a PPP (DBFOT) mode across 112.6 hectares near Pithampur in Dhar district, encompassing 90 hectare of private land from four villages and 22 hectares of government land.

The collector's guideline rates for Jamodi village were comparatively lower than the other three villages - Kheda, Akolia, and Sagor.

"We have obtained possession of 63 hectare in Jamodi village and consequently now possess the entire 112.6 hectare for establishing the facility. The acquisition was delayed due to compensation-related grievances. We now anticipate commencing the development work by the end of this fiscal. This integrated facility will be advantageous for industries and substantially contribute to the economical development of the region," said Rajesh Rathod, executive director of MPIDC, Indore.

The estimated total project cost stands at Rs 1,110.6 crore.

The state government sanctioned a special package amounting to Rs 30.5 crore to provide twofold compensation for 63 hectares to all 85 landholders in Jamodi village, as per the Industrial Policy and Investment Promotion Department. MPIDC shall bear 50 percent of the compensation package cost.

To establish the logistics park, an SPV has been formed amongst the National Highways Logistics Management Limited (NHLML), Rail Vikas Nigam Limited (RVNL), and Madhya Pradesh Industrial Development Corporation (MPIDC).

Source: https://realty.economictimes.indiatimes.com/news/allied-industries/indore-development-work-of-multi-modal-logistic-park-to-begin-by-end-of-2024/115443746