Deltabulk Shipping India Pvt Ltd, the Indian unit of London-based Delta Corp Holdings Ltd, has won the bid to develop a multimodal logistics park (MMLP) at Nagpur by placing the highest minimum guaranteed revenue of Rs365.89 crores for the 45-year contract, multiple sources said.
Further, Deltabulk Shipping has agreed to share an additional 10 percent of its quarterly revenue with the National Highways Logistics Management Ltd (NHLM) if it does additional business than what is estimated in the bid.
Deltabulk Shipping has estimated revenue of Rs33,597 crores over the concession period of 45 years.
MMLP bids are decided on the minimum guaranteed revenue share based on the net present value discounted at a certain rate quoted by the bidders.
J M Baxi Ports & Logistics Ltd, the only other bidder in the fray, quoted a minimum guaranteed revenue of Rs169.44 crores.
“We have awarded the bid to Deltabulk Shipping,” Prakash Gaur, Chief Executive Officer, National Highways Logistics Management Ltd (NHLM) told ET Infra. NHLM is a unit of the National Highways Authority of India (NHAI), India’s highway development agency.
Deltabulk Shipping, the third-party logistics Company led by Indian-born Mudit Paliwal, will have to invest some Rs360 crores to develop the MMLP spread over 150 acres.
Paliwal, a former co-head and executive vice-president of global freight at commodities group, Noble, founded Delta Corp Holdings couple of years ago after stints with Norvic Shipping International and Hong Kong-based Caravel Group.
This is the fifth MMLP project to be awarded by NHLM after Chennai, Bengaluru, Indore and Jogighopa (Guwahati).
Under the PM Gati Shakti National Master Plan (NMP), the Ministry of Road Transport and Highways plans to develop 35 multi modal logistics parks across India, 15 of them in the next three years.
A multi modal logistics park is a cargo consolidation and distribution centre using multiple modes of transport to achieve scale in shipments and provides various logistics and other value-added services.
It acts as an intermodal freight-handling facility with mechanized material handling provisions that contains warehouses, specialized cold chain facilities, freight/container terminals, and bulk/break-bulk cargo terminals.
Typically, MMLPs include intermodal connectivity such as dedicated railway line/spur, access from prominent highways/expressways to allow movement of commercial vehicles and connectivity to an airport or a seaport or inland waterway terminal. The value-added services provided by a MMLP includes customs clearance, late-stage processing activities such as sorting/grading, aggregation/ disaggregation, cold storage etc. to provide flexibility to the users at a single location.
