SPV to be formed for MMLP at VOC Port
Sarbanand Sonowal, the Union Minister for Ports, Shipping and Waterways, has announced the formation of an SPV to establish a multimodal logistics park (MMLP) at the VOC Port in Chennai. The PPP model will be used to create the MMLP. The SPV will supply land and connectivity, while a private developer will build the MMLP infrastructure. All three stakeholders, he says, will be equity partners in the proposed SVP: Chennai Port Authority, TIDCO, and NHAI. Sonowal said at the virtual MoU signing that V.O. Chidambaranar Port has offered to set up an MMLP to link the Eastern and Western coasts because of its benefits such as rail-road connectivity, proximity to the main sea route, and geographic location.