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In Kochi, the second container freight station (CFS) near the international container transshipment terminal (ICTT) at Vallarpadam is nearing completion. It is being set up by MIV Logistics Private Limited, a special purpose vehicle (SPV) floated by the State government-promoted entity Inkel, CFS will have a capacity to handle 75,000 containers a year.
Sources said that CFS is being set up on 18.3 acres of land leased to MIV Logistics by Cochin Port Trust(CPT) for 30 years against a one-time lease premium and annual rentals. The estimated cost of the station, including the lease, is Rs 60 crore and it will be ready for commissioning in the second quarter of the next fiscal, the sources said.
In and around Kochi, there are three other such facilities- 2 of them are situated at Kalamassery and another at Willingdon Island. MIV has entered into operation and maintenance agreement with APM Terminals (APMT) wherein APMT will be responsible for complete operation execution and maintenance of the facility.