Cochin Port signs MoU for FTWZ, Cryogenic Warehouse, Aviation Fuel Terminal
As part of the Maritime India Summit 2021, Cochin Port Trust has signed three MoU’s for developing a Free Trade Warehousing Zone, Cryogenic Warehous and Aviation Fuel Terminal.
The FTWZ, proposed at Vallarpadam at an estimated cost of ₹85 crore, will facilitate storing, handling and rendering value-added services to both dry and cold storage of cargo and help generate jobs to at least 50 persons.
The Cryogenic warehouse, proposed at Puthuvypeen at an estimated cost of ₹30 crore, will provide cold storage facility for items such as marine products, meat, vegetables, fruits and pharmaceutical products and help generate employment to at least 65 persons, for which MoU has been signed with DP World.
The FTWZ will be developed by IGTPL, the operator of ICTT, Vallarpadam. Land for developing Cryogenic Warehouse will be awarded through tender.
The Indian Oil Corporation-proposed Aviation Fuel Terminal in Willingdon Island, costing about ₹200 crore, includes installation of tank farm in 8 ha of land for storage of indigenously produced aviation fuelfor supply to airports in Kerala, senior port officials said.
The Maritime India Summit – 2021, being organised by Ministry of Ports, Shipping & Waterways, between March 2 and 4, will be inaugurated by the Prime Minister Narendra Modi. The summit will be on exploring the potential business opportunities in Indian maritime sector and making Aatmanirbhar India.
Source: The Hindu Business Line