The Union Cabinet on Wednesday approved construction of multi-modal logistics and transport hub at Greater Noida in Uttar Pradesh with an estimated cost of Rs 3,883.80 crore.

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, also approved proposals of the Department of Promotion of Industry and Internal Trade (DPIIT) for construction of various trunk infrastructure components for Krishnapatnam Industrial Area in Andhra Pradesh and Tumakuru Industrial Area in Karnataka at estimated costs of Rs 2,139.44 crore and Rs  1,701.81 crore, respectively.

The multi-modal logistics hub project will be developed as a world-class facility that will provide efficient storage/transitioning of goods to/from the Dedicated Freight Corridors (DFC) and offer a one-stop destination to freight companies and customers, an official statement said.

The facility will not only provide standard container handling activities but also provide various value-added services to reduce logistics cost with improved efficiency of operations, it added.

The multi-modal transport hub project located near the already existing Indian Railways station of Boraki will act as a transport hub with provisioning of rail, road and MRTS accessibility for the passengers in a seamless manner.

It will have space for inter state bus terminal, local bus terminal, metro, commercial, retail and hotel space and green open spaces. “The project will provide world-class passenger movement facilities for the growing population of the catchment zone catering to upcoming developments in Uttar Pradesh, sub-region of the NCR and thus, decongest Delhi,” it added.