Major Initiative, Haryana Government to develop an Integrated Multi-Modal Logistic Hub (IMLH)

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NewZNew (Chandigarh) : In a major initiative, Haryana Government has decided to develop an Integrated Multi-Modal Logistic Hub (IMLH) as part of the prestigious Delhi-Mumbai Industrial Corridor (DMIC) project. It will be developed over an area of 1200 acres adjoining the Delhi-Mumbai Freight Corridor near IMT Bawal. Besides it was also decided to expand the Industrial Model Township at Bawal over an area of 2400 acres. The projects will provide a major boost to the GDP growth of the State and prove to be a driver for future growth in the Southern Haryana Region.

Manohar-Lal-KhattarThe Haryana Infrastructure Development Board (HIDB) which met underthe chairmanship of Chief Minister Mr. Manohar Lal here today approved the projects .For the purpose of funding the acquisition of said 1200 acres land, the HIDB took a decision for equity investment amounting to Rs. 900 crore for the project.

It was informed in the meeting that the IMLH would be developed in Public-Private-Partnership (PPP) mode in collaboration with Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) and is likely to be operational in the next two to three years time. The project is envisaged to develop EXIM container yard, domestic container yard, warehousing, auto zone and commercial zone. As per the initial project feasibility the EXIM traffic is likely to constitute 75 per cent of the total container traffic estimated at 1.39 tonne equivalent units (TEU) by the year 2030.

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In the meeting, the Board has also decided to extend a short term loan of Rs. 850 crore to HSIIDC to enable part-fund the acquisition of adjoining industrial area for extension of IMT Bawal. The said short term loan shall be paid back by HSIIDC alongwith interest at the rate of 8.9 per cent per annum.

A Special Purpose Vehicle (SPV) for implementation of the IMLH project will be formed to workout the modalities of financial structuring, terms and conditions involving equity investment and short term loan for this project. The Chief Secretary would finalise the modalities for the same.

The DMIC project in Haryana would cover 66 per cent area of the state across 14 districts. Under the DMIC project, four investment regions namely Manesar Bawal Investment Region, Faridabad Palwal Industrial Area, Kundli sonipat Investment Region and Rewari-Hisar Industrial Area would be developed. Under the first phase, Manesar Bawal Investment Region would be developed.

It was informed in the meeting that MBIR would generate industrial output of 42 billion US dollar by year 2040 which would likely to contribute 25 per cent of state GDP. Besides,  the project is expected to provide direct and indirect employment to 1.6 million people by year 2040.

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Those present in the meeting including Chief Secretary Mr. P.K. Gupta, Principal Secretary to Chief Minister Mr. Sanjeev Kaushal, Additional Chief Secretary Town and Country Planning Mr. P. Raghvendra Rao, Additional Chief Secretary Finance Mr. P.K. Das, Director General Town and Country Planning Mr. Anurag Rastogi and other members of the Board.

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