Union Cabinet approves Land Exchange between AAI and VPT
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the exchange of Airports Authority of India’s (AAI) land measuring 11.45 acres at Visakhapatnam Airport with an equivalent area of land offered by Visakhapatnam Port Trust for setting up of Multi Modal Logistics Park (MMLP) by M/s Container Corporation of India (CONCOR) at Visakhapatnam.
The exchange of land measuring will be beneficial to both AAI and VPT. The land offered for exchange by VPT is in continuation to existing AAI land and will be useful for AAI, in view of future developmental plans for Visakhapatnam Airport. The setting up of Multi Modal Logistics Park and other customer related facilities by M/s CONCOR will also help in substantial development of Andhra Pradesh by enhancing the cargo handling capacity and development of an integrated rail-road logistics hub, thereby facilitating a boost in the economy and trade of the State.
M/s Container Corporation of India (CONCOR), a Public Sector Undertaking under the Ministry of Railways is setting up a Multi Modal Logistics Park (MMLP) near Visakhapatnam on 98 acres (approx.) of land, taken on lease from Visakhapatnam Port Trust (VPT), which is a port handling trust under the Ministry of Shipping. Handing over the full extent of 98 acres for the CONCOR project involves exchange of 11.45 acres of land between VPT and AAI.