Patna: The city is witnessing remarkable developments with the initiation of the Multi-Modal Logistics Park (MMLP) and Fintech City project in the Fatuha block. Announced in early 2023, these projects promise to reshape the industrial landscape of Patna.

Overview of the Multi-Modal Logistics Park

The MMLP, covering approximately 105.2 acres, aims to revolutionize transportation for e-commerce and logistics sectors by offering advanced facilities like large warehouses, cold storage, and mechanized handling systems. This extensive infrastructure is expected to significantly reduce transportation costs.

Current Status: Land Acquisition and Compensation

As of now, the projects are in the early stages, with officials reporting that land acquisition is ongoing for Fintech City and compensation is being disbursed to farmers for land allocated for the logistics park. Ensuring fair compensation highlights the commitment to local stakeholders during this transformative phase.

Strategic Benefits of the Logistics Park

Developed with an estimated investment of Rs 169 crore, the MMLP is positioned strategically at Jaitiya Mauza in Fatuha block. This project, executed in collaboration with National Highway Logistics Management Ltd (NHLML), is set to integrate road and rail connectivity, enhancing the efficient movement of goods. The logistics hub will connect to the Amas-Darbhanga highway and Neora-Daniyawan railway line, making it a pioneering facility in Bihar.

The Vision for Fintech City

Adjacent to the logistics park, the proposed Fintech City will span 242 acres and is anticipated to cost around Rs 408 crore. Inspired by Gujarat’s GIFT City, this township aims to attract domestic and international businesses through a well-planned infrastructure that bolsters financial technology operations.

Modern Infrastructure and Ecosystem

The Fintech City is designed to foster an integrated zone for banking, insurance, investment services, start-ups, digital payments, and advanced financial solutions driven by Artificial Intelligence. Comprehensive urban infrastructure will be developed, including high-speed internet, underground electric systems, and 24-hour water supply, ensuring a conducive environment for business and living.

Aiming for Global Competitiveness

With India’s first Fintech city, GIFT City, gaining prominence on a global scale, Patna’s projects aim to replicate this success by attracting investments and facilitating large-scale financial operations. By establishing a vibrant ecosystem, the city aspires to become a significant player comparably to global hubs like Dubai, Singapore, and London.