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DP World and Cochin Port Authority signed two MoUs

Published on October 22, 2023
Current Context: DP World, which manages the International Container Transshipment Terminal (ICTT) at Vallarpadam, has signed two Memorandums of Understanding (MoUs) with the Cochin Port Authority in Kochi.
DP World and Cochin Port Authority signed two MoUs
  • The first MoU will enable DP World to launch the phase I of a Free Trade Warehousing Zone (FTWZ) at Cochin Port.
  • Once operational, the proposed Cochin Integrated Business Park, which will be operated by DP World, will be the first free trade warehousing zone in Kerala and the first one to be co-located alongside a container terminal in the country.
  • The synergies between ICTT and Cochin Integrated Business Park are expected to enhance trade possibilities for international and domestic businesses and expand their markets.
  • The second MoU is for enhancing the cargo handling facilities. This aims to expand ICTT’s capacity and enhance operational efficiency.
  • These MoUs are expected to strengthen Cochin Port’s credentials as a major port in South India along the west coast.

Question:

Q.1 Who signed two Memorandums of Understanding (MoUs) with the Cochin Port Authority?
a. Adani Ports
b. DP World
c. Jawaharlal Nehru Port Trust
d. Mumbai Port Trust
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