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Cochin Port Trust inks three MoUs

Friday, 26 Feb 2021

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As part of the Maritime India Summit 2021, the Cochin Port Trust has signed three memoranda of understanding (MoUs) for developing a Free Trade Warehousing Zone (FTWZ), Cryogenic Warehouse and Aviation Fuel Terminal.

FTWZ, proposed at Vallarpadam at an estimated cost of Rs 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 Rs 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 an MoU has been signed with DP World.

FTWZ will be developed by India Gateway Terminal (IGTPL), the operator of ICTT, Vallarpadam. The land for developing Cryogenic Warehouse will be awarded through tender.

The Indian Oil Corporation (IOCL)-proposed Aviation Fuel Terminal in Willingdon Island, costing about Rs 200 crore, includes installation of tank farm in eight ha of land for storage of indigenously produced aviation fuel for supply to airports in Kerala.