"DP World Inks MoUs with Cochin Port for Capacity Expansion"

DP World, a global leader in logistics and trade, has solidified its commitment to advancing the capacity and capability expansion of Cochin Port through two significant Memorandums of Understanding (MoUs) signed on Friday with the Cochin Port Authority.

The first MoU is poised to usher in the implementation of Phase I of a Free Trade Warehousing Zone (FTWZ) at Cochin Port by DP World. In the second MoU, this logistics powerhouse will focus on elevating its cargo handling facilities at the International Container Transshipment Terminal (ICTT), which is operated by India Gateway Terminal Private Ltd.

Upon becoming operational, the forthcoming Cochin Integrated Business Park, owned and operated by DP World and scheduled for launch in Q1 2024, will mark a groundbreaking development. It will stand as Kerala's first Free Trade Warehousing Zone, uniquely co-located alongside a terminal in India. The strategic alignment between ICTT and the Cochin Integrated Business Park holds immense potential to significantly enrich trade opportunities for both international and domestic businesses, extending the reach of their markets.

Simultaneously, the second MoU is set to bolster ICTT's capacity and operational efficiency. This enhancement will be instrumental in attracting more cargo and liner services, making it an even more compelling gateway for international trade and commerce. These collaborative efforts are poised to usher in an exciting phase of growth and expansion for Cochin Port, cementing its status as a pivotal hub for global trade.

HBL