The National Highways Logistics Management Ltd. and the Inland Waterways Authority of India will partner to develop a multi-modal logistics park in Varanasi, according to a press release issued by the Ministry of Road Transport and Highways.
The announcement follows the signing of a memorandum of understanding between the Ministry of Road Transport and Highways arm NHLML and the Inland Waterways Authority of India to develop a 150-acre park.
Road Transport and Highways Nitin Gadkari and Ports, Shipping and Waterways Minister Sarbananda Sonowal were among important dignitaries present at the event.
As a result, transportation and trade will improve in the region. The park will be connected to major highways, railways, and waterways, and is expected to boost the local economy.
While the project promises significant investment and employment opportunities, it is also expected to strengthen the country's logistics sector, enhancing trade efficiency, and driving economic growth.
The project aligns with the ministry's goal of lowering logistics cost in India, so as to make Indian products more globally competitive. The park will be strategically connected to the National Highway-7 through a 650-metre access road and is just 1.5 km away from the NH7-NH2 junction.
It will seamlessly integrate with the Eastern Dedicated Freight Corridor through a 5.1-km railway line from Jeonathpur Station and National Waterway-1. The Lal Bahadur Shastri Airport in Babatpur too is within easy reach, as it is only 30 km away from the park.
The statement called the initiative "a testament to India's commitment to developing its logistics sector and reinforcing its position as a global economic powerhouse".
(With PTI inputs)
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