UP-Govt approves first investment project in Logistics sector
UP-Govt approves first investment project in Logistics sector
Lucknow: Close on the heels of all important approval of Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Greater Noida in Uttar Pradesh by the Government of India, complying with directions of Chief Minister Yogi Adityanath for rapid development of the logistics infrastructure to support the industry, the Uttar Pradesh government has approved the first investment proposal under the Warehousing and Logistics policy-2018 of the State for establishing a warehousing unit in Lucknow.
On the recommendation of the Empowered Committee, headed by Chief Secretary, Minister, Industrial Development, Satish Mahana has granted approval to the investment proposal of Nanak Logistics Pvt. Ltd. The warehousing unit is proposed to be set up in an area of approximately 86,000 sq.m. in Bhaukapur village of Sarojini Nagar, Lucknow with a proposed investment of about Rs. 85 crores.
Mahana said, “Warehousing is a crucial component of supply chain providing centralized storage facility and enabling easier efficient packing, distribution and delivery of goods manufactured in industrial units along with better inventory management for MSMEs in particular”.
Additional Chief Secretary (ACS), Infrastructure and Industrial Development, Alok Kumar informed that in all six proposals worth approx. Rs. 438 crores had been received by the state government for investment in warehousing and logistics sector. The approved unit is the first project to get the nod from the State government.
Kumar said that the State government had reduced the eligibility limit for development of logistics parks from 50 to 25 acres besides granting ‘industry’ status to the sector. He said, “As per the findings of evaluation on the basis of prescribed parameters, Uttar Pradesh has made significant improvement on the parameters of ‘ease of arranging logistics at competitive rates’ and ‘quality of logistics infrastructure’.”
Commenting on the major logistics projects at Greater Noida getting approval of Union government recently, Additional Chief Secretary, who is also State’s nodal officer for development of integrated state logistics plan, said that upcoming Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) Projects at Greater Noida with an estimated cost of around Rs. 3,884 crore were expected to create employment avenues to the tune of 1 Lakh apart from providing efficient storage and transitioning of goods through the Eastern and Western Dedicated Freight Corridors.
Logistics Hub project at Dadri will be developed as a world-class facility that will offer a one-stop destination to freight companies and customers. 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.
Multi-modal Transport Hub (MMTH) project at Boraki will comprise of Rail, Road and MRTS facilities for passengers, it will have space for Inter-State Bus Terminal (ISBT), Local Bus Terminal (LBT), Metro, commercial, retail and hotel space and green open spaces.
