The Union Cabinet, which is scheduled to meet on December 30, is likely to approve a proposal of land swapping between the Airports Authority of India (AAI) and Visakhapatnam Port Trust for setting up a multi-modal logistics park there, which is to be developed by the Container Corporation of India (Concor).
In another significant step, the Cabinet may also clear signing of an MoU between the ministry of urban development and US-based media and software organisation Bloomberg LP for providing consultancy on the smart cities project of the NDA government, sources informed. According to information available with this newspaper, around 11 acres of AAI's land in Visakhapatnam will be swapped with an equal area of land of the Visakhapatnam Port Trust for setting up the logistics park there.
The park entails an investment of around `400 crore, sources informed and once completed, would give a lot of boost to the export-import trade of Andhra Pradesh. It is also important in the light of the fact that quite a few projects are likely to come up in the newly-bifurcated state, with the state government offering tax incentives.
The logistics park would cater to the requirements of other states like Orissa and Chhattisgarh, owing to its proximity to the coastline. As has been reported, Bloomberg LP had been approached by the Centre for seeking its expertise in developing smart cities within the country, earlier this year.
Subsequently, the Cabinet may also give clearance to the signing of an MoU between the urban development ministry and the US-based media and software organisation where Bloomberg would be providing technical know-how on the government's ambitious smart cities project.