As part of the Maritime India Summit 2021, Cochin Port Trust signed three MoUs on Thursday with stakeholders for developing a free trade warehousing zone (FTWZ), a cryogenic warehouse, and an aviation fuel terminal.
The FTWZ proposed at Vallarpadam at a cost of ₹85 crore will facilitate storing, handling and rendering value added services for both dry and cold storage of cargo and help generate jobs for at least 50 persons, a release said. The FTWZ will be developed by IGTPL, the operator of ICTT, Vallarpadam.
The cryogenic warehouse proposed at Puthuvypeen at a cost of ₹30 crore will provide cold storage facility for items such as marine products, meat, vegetables, fruits, and pharmaceutical products and help to generate employment to at least 65 persons, for which MoU has been signed with DP World. Land for developing the warehouse will be awarded through tender.
The Indian Oil Corporation Ltd.’s proposed aviation fuel terminal on Willingdon Island, costing about ₹200 crore, includes installation of the tank farm on eight hectares for storage of indigenously produced aviation fuel, coastally shipped to Kochi, for supply to airports in Kerala. This project is expected to generate at least 60 jobs. Some more MoUs are expected to be signed during the coming days, the release said.
The Maritime India Summit - 2021 organised by the Ministry of Ports, Shipping and Waterways will be inaugurated by Prime Minister Narendra Modi on March 2. The summit, held on a virtual platform, will be on exploring potential business opportunities in the Indian maritime sector.
