1. 34 MoUs for Rs 2 lakh crore investments inked at transport summit

34 MoUs for Rs 2 lakh crore investments inked at transport summit

As much as 34 MoUs promising investment propossals worth Rs 2 lakh crore were signed during the three-day first India Integrated Transport and Logistics Summit

By: | New Delhi | Published: May 6, 2017 5:41 AM
Minister of Road Transport & Highways and Shipping Nitin Gadkari with Union Food & Consumer Affairs Minister Ramvilas Paswan and Union Railway Minister Suresh Prabhu during the inauguration of India Integrated Transport and Logistics Summit 2017 in New Delhi. (PTI)

As much as 34 MoUs promising investment propossals worth Rs 2 lakh crore were signed during the three-day first India Integrated Transport and Logistics Summit held here, Union Minister Nitin Gadkari said on Friday.

A majority of the investment proposals have come for port connectivity and improvement. Investors have also evinced interests for multimodal logistics parks in large numbers. They also shown interest to invest

National Highways Authority of India (NHAI) has signed the initial pact for implementation of 79 port connectivity projects worth Rs 1.07 lakh crore. Among the private sector, Adani Logistics have signed a Rs 2,000 crore pact for development and furthering of multi-modal logistics parks at Taloja and Bidadi.

Highlighting the need for bringing down logistics costs in the country to remain competitive in the export markets, Gadkari said Speaking at the concluding session, Gadkari said that the summit was the first step towards realising this objective.

“The participation of both government and private sector has been very encouraging. Even states from the North East have come forward to sign MoUs,” he said.

Around 3,000 delegates from India and abroad, including central and state government organisations , multi-lateral organisations like World Bank and ADB, delegates, global transport and supply chain experts and representatives of private companies attended the seminar.

The government has identified sites for the proposed 35 logistics parks to be set up on railways, highways, inland waterways and airports transportation grid.

Fifteen such logistics parks will be constructed in the next five years. Government also plans to set up 35 logistics parks in the country.

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