Cochin Port to sign MoUs worth Rs 2,825 cr at Maritime India Summit 2021

The port will sign nine MoUs worth Rs 2,825 crore at the second Maritime India Summit 2021 to be held held on March 2-4

Cochin Port will sign nine MoUs worth Rs 2,825 crore at the second Maritime India Summit 2021 to be held held on March 2-4, the government said on Wednesday.

Cochin Port Trust is one of the 12 major ports in the country.

"Cochin Port Trust (CoPT), one of the major port trusts in India, will sign 9 MoUs of Rs 2,825 crore (as of today) at 2nd Maritime India Summit 2021 scheduled to happen on 2nd to 4th March 2021," Ministry of Ports, Shipping and Waterways (MoPSW) said in a statement.

These MoUs will be majorly signed between Fertilisers and Chemicals Travancore Limited (FACT); Kottayam Port & ICD Services; IOCL; IGTPL; etc.

The MoUs will be signed in the areas like dredging for maintenance of channels and basins, coastal connectivity, cargo handling, tourism related projects, aviation fuel terminal, deepening and widening of port channels, etc.

"The Ministry of Ports, Shipping, and Waterways is also in process of finalising more than 217 MoUs to be signed in conjunction with the summit. These MoUs will be signed with different coastal states and stakeholders of the sector," the statement said.

These MoUs are focused on attracting investment, skilling, and generating employment in the sector.

The signing of these MoUs will help in streamlining the process of ship maneuvering resulting in more business to the ports and economic stability to the sector and its stakeholders.

The statement said within two weeks of the announcement, more than 30 CEOs, including national and international, have confirmed their participation.

Also, total 83 speakers have confirmed their participation including international and domestic speakers. International participants are from countries like USA, Russia, Denmark, Brazil, Japan, Sweden, Singapore, Netherlands, etc, it added.