A special storage facility for handling raw
cotton at Dakshin Bharat Gateway Container Terminal has recently been
inaugurated at the VO Chidambaranar Port.
S Anantha Chandra Bose,
chairman, VO Chidambaranar Port Trust, inaugurated the facility in the presence
of KVVG Diwakar, Commissioner of Customs, Tuticorin, S Natarajan, deputy
chairman, VO Chidambaranar Port Trust and M Senthil Kumar, chairman, the
Southern India Mills’ Association (SIMA).
The raw cotton storage
facility is likely to accommodate around 500 TEUs of 40 foot container and has
been planned in the custom bonded area of Dakshin Bharat Gateway Container
Terminal. The raw cotton can by stocked for a period of 30 days at free of
cost. The Customs has also issued the necessary guidelines for handling
imported raw cotton and storage in the facility.
“The prime objective is to
facilitate international cotton traders to bring the cotton and store it in the
Port yards and sell the cotton either to the mills in India and to have the
leverage of selling the cotton to other countries as well. It is
pertinent to note that the above facility will aid textile mills to get cotton
at the international price within short span of one week, thereby increasing
the yarn production in Tamilnadu. The facility would have a rippling effect by
strengthening the textile value chain particularly knitting, weaving,
garmenting, textile processing, apparel sector etc., and through providing
employment opportunity for more than one lakh people of Tamilnadu. In addition,
it will also lead to parity in the cotton price at the Indian market,” said the
VO Chidambaranar Port Trust in a press release.
The release further said that
in order to give impetus to the import of containerized raw cotton, VO
Chidambaranar Port has also agreed to levy nominal rent on the containers
carrying raw cotton handled at the port by the traders.
In the second phase, a Free
Trade Warehousing Zone (FGTWZ) will be established in the Port estate
with creation of world-class infrastructure for warehousing of raw
cotton, state-of-the-art equipment, transportation and handling facilities,
commercial office-space, water, power, communications and connectivity, with
one-stop clearance of import and export formality, to support the integrated
zones as ‘international trading hubs’. VO Chidambaranar Port has already
identified 52.40 hectares of land in the port area for establishing FTWZ and is
in the process of finalizing the detailed project report for the same.