Container freight station on 16.6 acres of NMPA land to come up through SPV in a year

A container freight station, spread across 16.6 acres of area of New Mangalore Port Authority, will come up at an estimated cost of ₹125.43 crore within a year through a special purpose vehicle

A container freight station (CFS), spread across 16.6 acres of area of New Mangalore Port Authority, will come up at an estimated cost of ₹125.43 crore within a year through a special purpose vehicle (SPV).

While the NMPA’s contribution in the SPV would be the land, valued at ₹44.25 crore, the Central Warehousing Corporation (CWC) and the Sagarmala Development Company Ltd., (SDCL), would bear the balance cost.

CWC Managing Director Amit Kumar Singh, NMPA chairman A.V. Ramana and SDCL Managing Director Dilip Kumar Gupta signed a memorandum of understanding on Tuesday in Mangaluru.

Mr. Ramana said the project was expected to enhance the port’s capability to serve the growing export-import container traffic from the hinterlands. The dedicated container terminal developed by the port under PPP has witnessed phenomenal growth of 8.5% in one year of its launch by handling only FCL (full container load) cargo.

The chairman said the CFS would facilitate aggregation of LCL (less than container load) cargo and FCL cargo.

Mr. Ramana stressed that the CFS would be an enabler for small and agri-product exporters, inclusive of coffee, by providing adequate temperature-controlled storage for aggregation and handling facilities for stuffing of containerised cargo.

The facility would reduce the container dwell time, both for export and import, that helps the port to achieve another milestone under Maritime India Vision 2030.