Cochin Port Trust leases 23 acres of land

The Cochin Port Trust (CPT) has decided to lease around 23 acres of its land in the city for commercial, industrial and gastronomic activities. The Authority has invited tender to lease 11.8 acres at Willingdon Island and 10 acres at Vallarpadam.

According to a press release issued by the authorities, the land adjacent to NH-966B on Willingdon Island would be leased for 30 years for commercial/industrial/hospitality activities. In addition to two other properties with 2.88 hectares and four hectares, two properties with 2.50 hectares each, which border on the national road, are advertised.

In Vallarpadam, the property opposite the International Container Transshipment Terminal (ICTT) would also be leased. The pitches are approximately 200m from the NH-966A.

The plots of land for rent are in prime waterfront locations in the city. The Cochin Port Employees Organization (CPEO) has already launched a protest against the lease of the property near the port office on Willingdon Island. CPEO’s CD Nandakumar said that leasing land is part of the Union’s strategy to monetize its property.

Source: News Network