Indian Government Taking Stake in Multimodal Logistics Hubs
The government of India will be 50-percent shareholder in the proposed multimodal logistics and transportation hubs, which are part of the Delhi-Mumbai Industrial Corridor (DMIC) project at Greater Noida.
The government of India, as well as the government of the state Uttar Pradesh, recently gave the go-aheads for the proposed project. Once the plans are finalized, the Indian government will provide 50 percent of the project’s funding.
The two projects will occupy over 1,000 acres of land. “While multi-modal logistics hub will be constructed across 725 acres, the multi-modal transport hub will be built on 400 acres of land.
The Greater Noida Industrial Development Authority (GNIDA) has acquired 70 percent of land for the projects and the remainder is the process of being acquired. GNIDA will be contributing the land to the project as its share of the equity. Once the targeted real estate has been completely acquired, the 50-percent equity with the government will be worked out.
Once the land is in place, GNIDA will start development and construction of the hubs. A so-called Integrated Industrial Township has already been formed and is under construction on 800-plus acres of land.
The logistics is be located at Dadri to will address the needs of industries in that area. The transportation hub is planned at Bodaki, Greater Noida, positioned close to the junction of various eastern and western freight corridors.
A high-speed mass rapid transport system is planned Bodaki and the Indira Gandhi International Airport. At around 90 miles, the proposed line will significantly reduce travel time.