Rail Vikas Nigam Limited has formed two joint ventures (JVs) for the construction of multi-modal logistics parks across India under the Bharatmala Pariyojana.

In 2021, the state-owned company entered into a Memorandum of Understanding with the National Highways Authority of India (NHAI) in connection with the construction of such logistics parks. “It is hereby informed that in this connection, Rail Vikas Nigam Limited (RVNL) has formed two JVs that are, Bengaluru MMLP and Chennai MMLP,” Rail Vikas Nigam Limited said in a stock exchange filing on Friday.

This comes against a backdrop where the government’s focus is on improving the efficiency of the movement of cargo across the country by bridging critical infrastructure gaps. By enabling seamless goods connectivity, the government hopes to reduce transportation costs. (ANI)