KOCHI: In an effort to develop Willingdon Island as a logistics hub, a major initiative is shaping up to set up a Free Trade Warehousing Zone (FTWS) at the island. The proposed FTWS would be part of the master plan being prepared for the redesign and redevelopment of Willingdon Island.The concept is to have a free trade warehousing zone which would be a global trading hub linking logistics and supply chain. It would comprise warehousing for different products, logistics and distribution centre along with one-top clearance for import and export of goods.“The geostrategic location of the island and its prominent water frontage would serve the right purpose of developing it into a logistics hub. The FTWS would be set up on 100 acres. More flexibility, reduced tax rates and ease of operation would be the major benefits for those operating from here,” Cochin Port Trust Chairman Paul Antony said.With the island being developed as a logistics hub, the Port Trust aims to have a couple of industries here. Tea and electronics are the two major industries which are expected to come up in the zone.Tea processing, packaging and export will be carried out from here. CPT is eyeing the previous figures according to which 0.07 million tonnes of tea (`378.73 crore) were exported from Kochi in 2008-09. The proximity of tea gardens in Munnar, presence of major players like Tata Tetley which imports 60 percentage of their volume needed for packing and re-exporting, and tax sops offered by SEZ would be beneficial to the tea industry at FTWZ.Similar is the case of electronics industry. The electronics facility to come up at FTWS would act as an interlinking point for international suppliers and dealers along with manufacturers and dealers in the country. Activities like packaging, re-packing, relabelling and consolidation would be carried out within the FTWZ. The warehousing facility to come up here will be suited for ship ancillaries, food and beverages and furniture. The warehouse would have customised storage capability, sanitised and temperature controlled environment which would be made moisture and dust-free along with land, air and water connectivity.“Currently, we are in the process of preparing the draft for the master plan which would be over in a month’s time. Once the master plan is finalised, the Port will go ahead with activities, including calling for expression of interest,” the Chairman said.
Comments
0 comment