New Delhi, Dec 12 : The NHAI has signed an agreement with DC Multi-Modal Park (Nagpur) Ltd, a special purpose vehicle of DeltaBulk Shipping India Pvt Ltd, for the development of a multi-modal logistics park at Nagpur, the Ministry of Road Transport and Highways said on Tuesday. The logistics park will be developed in an area of 150 acres under the Public Private Partnership model at an estimated cost of Rs.673 crore. This project is poised to be the first multi modal logistics park (MMLP) in Maharashtra under the PM Gati Shakti National Master Plan, making it a significant milestone in the country's development. The project will be developed in three phases. Phase-I is expected to be completed in two years with an investment of Rs 137 crore. The MMLP will cater to about 9.47 million metric tonnes (MMT) cargo in the horizon period of 45 years and will give a huge boost to the industrial zones in the catchment region such as Nagpur, Wardha, Chandrapur, and Gondiya. It will create a lot of employment opportunities and bring in economic development in the region. The MMLP will be developed at Sindi (near railway station) in Wadha district of Maharashtra. The site is strategically located at a distance of around 3 km from Nagpur-Mumbai Maha-Samruddhi Mahamarg on one side and the Howrah-Nagpur-Mumbai rail line, on the other side. Rail siding of length 3 km from Sindi Railway station on Howrah-Nagpur-Mumbai rail line is substantially completed. The MMLP is also being provided access from four lane Nagpur-Aurangabad, NH 361. The site is 48 km from Nagpur International Airport and 56 km from Nagpur railway station, according to the ministry's statement. A government SPV, Nagpur MMLP Pvt. Ltd is formed by the National Highways Logistics Management Ltd (NHLML), a 100 per cent owned company of NHAI and the Jawaharlal Nehru Port Authority (JNPA). JNPA has provided land for development of MMLP & NHLML is providing the external rail, road connectivity as well as water and power supply. The MMLP will provide facilities such as warehouses, cold storages, intermodal transfers, handling facilities for container terminals, bulk/break-bulk cargo terminals along with Value Added Services such as sorting/ grading and aggregation/ desegregation areas, bonded warehouse and customs facilities as well as support logistics facilities such as offices for freight forwarders and transporters and truck terminals. /IANS