A multimodal logistics park being developed near Visakhapatnam International Airport by Container Corporation of India (Concor) with an investment of US$59.72 million will be ready for commercial operations in two years.

Concor Group general manager R. Dhananjayulu told The Hindu that they were funding the project through internal accruals.
The first phase of the project developed in an area of 10 acres out of 98 acres acquired from Visakhapatnam Port Trust will be ready for operation by April.

A warehousing facility with 50,000 sq ft of bonded area is getting ready. VPT has allotted 98-acre on a 30-year lease extendable with mutual consent. As it is a marshy area, lot of filling is required.

The first phase will be completed at a cost of $2.58 million (excluding land cost).

It will be a Customs notified area. It is well-connected by road.

Dhananjayulu said two bridges and four railway lanes would be built as part of the project.

At present, Concor handles 2,000 containers for export and import and 1,000 domestic containers a month. Once the multimodal logistic park is completed, it will handle 10,000 containers with the facility to scale up to 20,000 containers.