Railways, Invest UP ink pact to boost logistics

Invest UP has signed a MoU with Northern Railway to strengthen UP’s industrial and logistics ecosystem. It aims to offer railway land to investors at a concessional lease rate of 1.5% of the prevailing industrial or circle rate for 35 years. The aim is cost-effective and easy logistics of raw materials and finished goods. The Railways wants to contribute in three ways. First, provide end-to-end transportation service if the investor develops a warehouse or logistics cargo terminal on its complex. Second, if the investor’s industrial complex is adjacent to a railway property, Railways will offer land to develop it as a cargo terminal to transport goods via freight trains. Thirdly, if the investor develops an industrial complex, the Railways will give preference and the service will be cheaper than road. The aim is to make UP a leading industrial state through logistics hubs, dry ports and multimodal parks, as per a report.

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