The Union Cabinet on Wednesday approved construction of multi-modal logistics and transport hub at Greater Noida in Uttar Pradesh with an estimated cost of Rs 3,883.80 crore.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, also approved proposals of the Department of Promotion of Industry and Internal Trade (DPIIT) for construction of various trunk infrastructure components for Krishnapatnam Industrial Area in Andhra Pradesh and Tumakuru Industrial Area in Karnataka at estimated costs of Rs 2,139.44 crore and Rs 1,701.81 crore, respectively.
The multi-modal logistics hub project will be developed as a world-class facility that will provide efficient storage/transitioning of goods to/from the Dedicated Freight Corridors (DFC) and offer a one-stop destination to freight companies and customers, an official statement said.
The facility will not only provide standard container handling activities but also provide various value-added services to reduce logistics cost with improved efficiency of operations, it added.
The multi-modal transport hub project located near the already existing Indian Railways station of Boraki will act as a transport hub with provisioning of rail, road and MRTS accessibility for the passengers in a seamless manner. It will have space for inter state bus terminal, local bus terminal, metro, commercial, retail and hotel space and green open spaces.
"The project will provide world-class passenger movement facilities for the growing population of the catchment zone catering to upcoming developments in Uttar Pradesh, sub-region of the NCR and thus, decongest Delhi," it added. The employment generation estimated is about 1,00,000 persons by 2040 for both these projects and will have a positive impact on growth opportunities in the surrounding area, the statement said.
Envisioned on the backbone of major transportation corridors like eastern and western dedicated freight corridors, expressways and national highways, proximity to ports, and airports, it said, the objective of industrial corridor programme is creation of greenfield industrial cities with sustainable 'plug and play', ICT enabled utilities to facilitate manufacturing investments into the country by providing quality, reliable, sustainable and resilient infrastructure to industries. The developed land parcels in these cities will be ready for immediate allotment for attracting investments into manufacturing, and positioning India as a strong player in the global value chain.
It said these projects have been planned on the backbone of multi modal connectivity infrastructure. "Krishnapatnam Industrial Area in Andhra Pradesh and Tumakuru Industrial Area in Karnataka under the Chennai Bengaluru Industrial Corridor (CBIC) have been approved to kick start the development in Chennai Bengaluru Industrial Corridor project," it said.
These greenfield industrial cities will be self-sustained with world-class infrastructure, road and rail connectivity for freight movement to and from ports and logistic hubs along with reliable power and quality social infrastructure, it said. "For Krishnapatnam node, estimated employment projection on completion of the first phase of development is likely to be around 98,000 persons, of which about 58,000 persons are likely to be employed at the site," it said.
It added that for Tumakuru node, employment of about 88,500 persons is estimated, out of which 17,700 persons will be from service industries such as retail, offices and other commercial opportunities in the initial development phase.