Multi-Modal Logistics Park in Mysuru
Mysuru is all set to get its very first Multi-Modal Logistics Park (MMLP) by the end of 2022.
With an aim to improve the country’s logistics sector and reduce the cost of transportation, the MoRTH (Ministry of Road Transport and Highways) is developing Multi-modal Logistics Parks in selected locations across India. And Mysore is one of the proposed locations for an MMLP.
Mysore’s Multi-Modal Logistics Park
Rs. 100 crore project at Kadakola, where the work on Inland Container Depot is already in full swing since December 2020, is a magnet for industrial development and commercialization of the city. Of the 100 cr, Rs. 20 crore has been spent on land acquisition and Rs. 55 crore will be spent on civil sparks.
The MMLP will improve freight aggregation, distribution, storage, and warehousing as well as create various value-added services including packaging, labeling, tagging, and crating. The efforts being taken by the State Government and City authorities on the construction of highways, strengthening of railways & airways are an added advantage because MMLPs demand appropriate and efficient modes of transportation. For a Multi-Modal Logistics Park to succeed, there must be uninterrupted linkages among adjacent parks and consumption centers.
Currently, Mysuru’s all the cargos meant for exports are transported by road to Chennai’s port due to lack of logistics facility in town. Once Mysore’s MMLP-in-progress comes into operation, Kadakola, the transportation cost, and the time cost involved will be enormously reduced.
What is in store?
The Multi-Modal Logistics Park will include:
- State-of-the-art warehousing
- Truck parking area
- Customer clearance facility
- Export and import cargo
- Customs duty will be taken care
- Two railway lines, loading lines, and engine escape lines
How Does This Impact Mysuru?
Mysore is moving forward to be its goal of commercialization and boosting the economic development of the country. The Multi-Modal Logistics Park impacts the city’s growth in many ways:
- Industrial boost in Mysore
- Boost to exports
- Higher employment opportunities
- Higher investment opportunities
- Higher ROI on investments
- New business opportunities
- Complements Mysore’s economical growth
- Bridging gap between supply and demand
- Infrastructural development
Why It’s the Best Time to Invest in Mysuru?
With this new project, more and more industries are going to house their businesses in Mysore which leads to faster commercialization of the city. When a place’s commercial value boosts, it attracts higher investments, which makes Mysore one of the best places to invest today.
Be it the purchase of a residential plot or commercial sites in Mysore, your investments will sure to witness higher returns.