CBRE South Asia Pvt. Ltd, has been appointed as the advisor for the development of Multi-modal Logistics Parks across five key locations including Mumbai, Chennai, Silchar, Coimbatore and Hyderabad. These projects are a part of Prime Minister of India's visionary and promising Bharatmala Pariyojana programme launched for the development of world-class infrastructure dedicated to smooth and seamless freight transport across multiple modes of transport.
The 35 MMLP projects is likely to create over 2 lakh job opportunities in the coming years and reduce logistics cost by a notable margin. Currently, more than 70% 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% of India's GDP to 8-10%, a benchmark achieved by developed economies such as Japan and the EU. This initiative aims to transform 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 shared, “We are honoured to be chosen for as advisor for such a prestigious initiative. 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.
CBRE is consulting implementation agencies National Highways Authority of India (NHAI) and National Highways Infrastructure Development Corporation Limited (NHIDCL) for the development of MMLPs in Mumbai, Chennai, Silchar, Coimbatore and Hyderabad. CBRE is also assessing pre-feasibility for the development of MMLPs across multiple other locations. This is a huge opportunity for us to demonstrate our expertise to help the Government drive one of its most ambitious projects with the aim to make India a resilient, competitive, and thriving economic hub”.
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 specialized knowledge of the logistics sector. The MMLP will improve the country's logistics sector by lowering overall freight costs and time, optimizing warehousing costs, reducing vehicular pollution & congestion, and improving the tracking and traceability of consignments. Along with the 5 projects currently assigned to CBRE, we look forward to many more opportunities of working with the implementing agencies.”
While these MMLPs will have excellent connectivity, they will also provide state of art, value-added services such as international grade warehousing, cold storage, packaging and sorting areas, product assembly clusters, a commercial zone, and a dedicated customs window to accommodate a wide range of businesses and cargo consignments of various sizes.