Use of Automated guided vehicles (AGVs) is highly significant in Flexible Manufacturing Sys-tem (FMS) in which material handling in form of jobs is performed from one work center to an-other work center. A multifold increase in through put of FMS can be observed by application of multi load AGVs. In this paper, Particle Swarm Optimization (PSO) integrated with Memetic Algorithm (MA) named as Modified Memetic Particle Swarm Optimization Algorithm (MMP-SO) is applied to yield initial feasible solutions for scheduling of multi load AGVs for minimum travel and waiting time in the FMS. The proposed MMPSO algorithm exhibits balanced explora-tion and exploitation for global search method of standard Particle Swarm Optimization (PSO) algorithm and local search method of Memetic Algorithm (MA) which further results into yield of efficient and effective initial feasible solutions for the multi load AGVs scheduling problem.