January 19 - The Container Corporation of India Limited (CONCOR) has been granted a lease for its proposed USD66.5 million Multi Modal Logistics Park (MMLP) at Kakinada Port, India.
According to the New Indian Express, the Andhra Pradesh government allocated a 60-year lease to CONCOR for 90 acres at Kakinada Port, where it would invest in rail sidings, Customs bonded warehousing, container stack yards, and cargo handling equipment. The MMLP will also have intermodal traffic handling capabilities comprising container, bulk and breakbulk cargo terminals.
CONCOR is planning to set up further multimodal logistics parks at Krishnapatnam, Kakinada and Machilipatnam.
According to officials of the AP Port Department, the objective of the MMLP is to enhance the presence of rail transport in the overall supply chain, while increasing freight traffic volumes.