Bidding for the proposed Multi-Modal Logistics Park (MMLP) in Chennai is likely to close on August 10, according to officials in the know.
The bids will be shortly evaluated and the first MMLP under the Bharatmala programme will be awarded later this month, they said.
"After award of the project, the private sector will make an investment of around ₹782.58 crore for the Chennai MMLP. Bids for the Nagpur and Bengaluru MMLPs are expected to close soon too," Prakash Gaur, the chief executive of National Highways Logistics Management Ltd. (NHLML), told ET.
Gaur said bids for the MMLP in Bengaluru will close next, followed by Nagpur.
The Bengaluru MMLP will require an investment of Rs. 935.90 crore from the private sector and will be awarded in September.
The Nagpur MMLP will need a private sector investment of Rs. 599.39 crore and it is expected to be awarded in October.
The bidders are competing on a minimum-guarantee revenue share.
A higher revenue commitment to NHLML boosts a bidder's prospects of getting an MMLP project. This revenue will be payable three years after the award of the project.
Gaur said bids for the Indore MMLP will also be called soon.
In all, NHLML is developing 35 logistic parks under the Bharatmala Pariyojana. It is estimated that the total investment in MMLPs will be about ₹70,000 crore.
The government and its arms will invest ₹23,000 crore, while developers that are awarded the projects will spend Rs. 46,000 crore.
Feasibility studies are in progress at Mumbai, Pune, Hyderabad, and Coimbatore.
It is also being initiated at Anantapur, Visakhapatnam, Jammu, Kanpur, and Bikdin/Jalna.
At peak capacity, the MMLPs are estimated to handle 700 million metric tonnes (MMT) of cargo.
NHLML shall ensure that a minimum four-lane paved road is provided to the MMLP within two years from the appointed date.
Rail connectivity in the form of a single line rail siding to the MMLP is to be provided within four years.
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