Patna: The development of the multi-modal logistics park (MMLP) and the proposed Fintech City in the Fatuha block of Patna district has not yet begun,.
In Patna, groundbreaking ventures like the Fatuha multi-modal logistics park and the Fintech City are taking shape. As land acquisition and farmer compensation are underway, the logistics hub is set to revolutionize transportation by minimizing costs through state-of-the-art facilities. Meanwhile, Fintech City aims to become a magnet for international companies, promoting industrial advancement and job opportunities.
Patna: The development of the multi-modal logistics park (MMLP) and the proposed Fintech City in the Fatuha block of Patna district has not yet begun, despite being announced in early 2023. Officials said the projects are currently in the initial phase, with land acquisition underway for the Fintech City, while compensation is being paid to farmers for land acquired for the logistics park. Spread over around 105.2 acres, the MMLP is expected to provide large warehouses with cold storage facilities, mechanised handling systems and customs clearance for e-commerce and logistics operations, thereby reducing transport costs. The Fintech City, meanwhile, is envisioned as a platform for national and international firms to set up offices, boosting industrial growth and employment for local residents. Both projects are being executed under the state industries department, officials said. An industries department official said, “Developed at an estimated cost of around Rs 169 crore, the MMLP will be located in Jaitiya Mauza in the Fatuha block. This is a major infrastructure project by the Bihar govt with National Highway Logistics Management Ltd (NHLML), aiming to integrate road and rail connectivity for efficient cargo movement, featuring large warehouses, cold storage and mechanised handling, boosting e-commerce and industry. ” The logistics park will be connected to the Amas–Darbhanga expressway and the Neora–Daniyawan railway line, offering seamless transport and making it Bihar’s first facility of its kind with state-of-the-art logistics solutions. The proposed Fintech City is to be developed near Jaitiya Mauza in the Fatuha block, close to the Neora–Daniyawan region, where the logistics park is planned. The township will be developed over 242 acres on the lines of Gujarat’s GIFT City, located between Ahmedabad and Gandhinagar, at an estimated cost of around Rs 408 crore. “Fintech, a combination of ‘finance’ and ‘technology’, refers to technology-driven financial services. The planned township is expected to bring together companies and institutions working in banking, insurance, investment services, start-ups, digital payments, blockchain and artificial intelligence-based financial solutions within a single integrated zone,” the official said. Officials indicated that the Fintech City would feature modern urban infrastructure, including high-speed internet connectivity, underground power systems, round-the-clock water supply and green energy provisions. Plans also include high-rise commercial buildings, residential areas, hospitals and international schools to support a full-scale business and living ecosystem. India’s first Fintech City, GIFT City, has emerged as a global financial and technology services hub, while similar clusters operate in international centres such as Dubai, Singapore and London. The Patna project aims to create a comparable platform in Bihar to attract investment and enable large-scale financial and technology operations.
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