1387
Views

DP World Launches Cochin Economic Zone, Propelling Global Trade Growth

DP World

Published Jun 25, 2024 12:09 PM by The Maritime Executive

[By: DP World]

DP World, a leading global provider of smart end-to-end supply chain solutions commenced operations of its Cochin Economic Zone. Strategically located within cochin port premise of Vallarpadam terminal, it is Kerala’s first free trade warehousing zone (FTWZ) and the third DP World Economic Zone in India.

DP World Cochin Economic Zone significantly enhances Cochin Port's capabilities as it is the first transshipment terminal in India, a preferred gateway to the south. This 75,000 sq.ft. state-of-the-art facility seamlessly integrates with DP World's strategic multimodal logistics network, facilitating efficient connections across India and global markets. In the heart of Cochin's bustling port activity, DP World Economic Zone marks a significant leap in its commitment to pioneering trade solutions. With 67 value-added services seamlessly integrated, businesses gain unparalleled advantages for their supply chain operations.

Speaking about Kerala’s first Free Trade Warehousing Zone, Ranjit Ray, Senior Vice President - Economic Zones Middle East, North Africa, and Subcontinent, said,“We are happy to unveil the DP World Cochin Economic Zone, an innovative model located within the port premises, setting a new benchmark among economic zones in India. Our aim in establishing economic zones is to enhance global trade opportunities by streamlining supply chains, resulting in cost savings and seamless connectivity. Our integrated solution in Cochin provides value-added services, linking ports to the wider supply chain through multimodal connectivity. At DP World, our dedicated team works tirelessly to create bespoke warehousing and logistics facilities, committed to delivering value and an enhanced experience. This facility will not only support EXIM-oriented businesses but also open doors for global companies to enter the Indian market.”

DP World Cochin Economic Zone enjoys excellent connectivity via three National Highways: NH 66 to Mumbai, NH 544 to Salem and Coimbatore, and NH 85 to Rameswaram via Madurai. Additionally, it offers convenient rail access within the port premises, with Ernakulam Junction (South) and Ernakulam Town (North) railway stations just 5-7 kilometers away. With Cochin airport located approximately 35 kilometers from the facility, businesses operating within economic zone benefit from enhanced accessibility and connectivity.

Operating within the framework of the SEZ Act, DP World’s Cochin Economic Zone presents substantial advantages for enterprises engaged in import, export, and trading activities within India. DP world FTWZ facilitates seamless and convenient re-export processes, providing unparalleled flexibility and efficiency in trade operations. It also provides regulatory advantages such as permission for unit setup without having a registered entity in India, duty-free deferment for importers, thereby enhancing ease of doing business. DP World Cochin Economic Zone is poised to become a pivotal hub for trade and commerce, offering unparalleled synergies and connectivity to Jebel Ali Free Zone (JAFZA) and beyond. The integration of DP World Cochin terminal with the new economic zone makes Cochin a world-class trading ecosystem, for now and the future.

In addition to Cochin, DP World has established two more Economic Zones in India, the Nhava Sheva Business Park (NSBP) in Mumbai and the Integrated Chennai Business Park (ICBP) in Chennai, offering 1 million and 600,000 square feet, respectively. These zones provide customers with a competitive advantage and customized warehousing solution.

The products and services herein described in this press release are not endorsed by The Maritime Executive.