Cochin Port Trust inks warehousing space pact

The Cochin Port Trust has signed three Memoranda of Understanding (MoUs) with stakeholders for developing a free trade warehousing zone (FTWZ), a cryogenic warehouse and an aviation fuel terminal as a part of Maritime India Summit 2021. The proposed FTWZ at Vallarpadam, the MoU was signed with IGTPL, the operator of ICTT, Vallarpadam. For the proposed cryogenic warehouse at Puthuvypeen, the MoU has been signed with DP World. It will facilitate storing, handling and rendering value-added services to both dry and cold storage of cargo and will help to generate jobs for locals. The cryogenic warehouse will provide a cold storage facility for items like marine products, meat, vegetables, fruits and pharmaceutical products and the land for developing cryogenic warehouses will be awarded through tender. Indian Oil Corporation has proposed an aviation fuel terminal in Willingdon Island at an investment of ₹200 crore.