DP World Commits to Next Phase of Capacity Expansion with Two MoUs Signed with Cochin Port Authority

DP World and the Cochin Port Authority have signed two Memorandums of Understanding (MoU) to expand capacity and capabilities at the port. The first MoU will involve DP World creating a Free Trade Warehousing Zone (FTWZ) at Cochin Port, while the second MoU will focus on enhancing the cargo handling facilities at the International Container Transshipment Terminal (ICTT) at the port. The proposed Cochin Integrated Business Park, set to be completed in 2024, will be the first FTWZ development in Kerala and the first to be located alongside a terminal in India. The second MoU aims to increase ICTT’s capacity and operational efficiency to attract more cargo and liner services. DP World currently operates five container terminals in India, with a combined capacity of around 6 million TEUs, and is developing a new terminal that will increase capacity to 8.19 million TEUs.

The collaboration between DP World and the Cochin Port Authority is expected to boost trade in the region and open up new possibilities for Cochin Port. The Cochin Integrated Business Park, once operational, will offer a Free Trade Warehousing Zone, which will enhance trade possibilities for national and international businesses and expand their markets. Additionally, the second MoU will increase the capacity and efficiency of ICTT, making it more attractive for cargo and liner services.

Cochin Port Authority expressed excitement over the proposed developments, stating that they will strengthen the port’s reputation as the best port in South India. DP World also expressed its commitment to making DP World Cochin one of the best-connected terminals in South India, with service lines to multiple Indian ports and international markets. Currently, DP World operates five container terminals in India, with plans to increase capacity further with the development of a new greenfield terminal.

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