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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; 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Reliance’s Mappedu Logistics Park renamed Chennai Global Logistics Park with DP World onboarded as a JV partner
2026-05-12 · via Economy News, Latest Economic News Today | The HinduBusinessLine
In 2022, Reliance Industries won the bid for the ₹1,424-crore project, beating the Adani Group

In 2022, Reliance Industries won the bid for the ₹1,424-crore project, beating the Adani Group

Reliance Industries’ ambitious multi-modal logistics park project at Mappedu near Chennai has been renamed Chennai Global Logistics Park Ltd, with Dubai-based DP World onboarded as a joint venture partner, multiple sources said.

According to sources, the Dubai-based shipping major has taken around two lakh sq ft of warehousing space within the logistics park and has acquired a 49 per cent stake in the joint venture.

Both companies, however, declined to comment on the development.

In another indication of DP World’s deeper involvement in the project, Ajay Moghe — who has been associated with the DP World group since May 2017 — was appointed Chief Executive Officer of Chennai Global Logistics Park Ltd in January this year, sources added.

The logistics park currently has five warehouses, of which three already have clients onboarded, according to people familiar with the development.

Background, cargo evacuation

The project, spread across 184.27 acres in Tiruvallur district, was originally conceptualised around 14 years ago but faced multiple delays, including issues related to access through local villages and infrastructure connectivity.

In 2022, Reliance Industries won the bid for the ₹1,424-crore project, beating the Adani Group. Prime Minister Narendra Modi laid the foundation stone for the project on May 26, 2022.

A pre-feasibility report for the project had highlighted its strategic importance as a logistics hub serving secondary industrial clusters such as Ranipet, Ambur, Tiruppur and Bengaluru. These regions house industries ranging from leather and heavy engineering to automobiles, cement, sugar and chemicals.

The park is also strategically located near the automobile and electronics manufacturing belt of Sriperumbudur-Oragadam and close to the Chennai Peripheral Ring Road. Industry sources said the long-term success of the project would depend significantly on dedicated rail connectivity between Mappedu and the ports around Chennai, which would help improve cargo evacuation and reduce logistics costs.

Published on May 12, 2026