Tamil Nadu govt to start logistics projects worth Rs 500 crore

In a bid to promote logistics sector in a big way, the Tamil Nadu government will facilitate projects with more than Rs 500 crore with customised incentives. To attract and enable financing for large scale logistics infrastructure development, the government will coordinate with financial institution such as National Investment & Infrastructure Fund (NIIF), Tamil Nadu Infrastructure Fund (TNIF) or any other suitable sources for leveraging funds, says reports. According to the latest logistic policy, the government will encourage phase wise preparation of logistics master plan for major cities and metropolitan regions in the state to promote city logistics. It will identify and earmark land parcels, minimum 50 acres, at strategic locations in the state for development of multi-modal logistics parks, warehousing clusters and private freight terminals (PFT) which will be developed through private participation. The government, through housing and urban development department, will reclassify the warehouse segment to industries category to facilitate ease of doing business in the state. It will also mandate existing warehouse developers to update their developments for streamlining registration process under the new sub-category under industries category within a defined period of time, reports adds.