[vc_row][vc_column][vc_column_text]At a function organised by the Port on August 4, 2017 at Dakshin Bharat Gateway Container Terminal, Mr S. Anantha Chandra Bose, Chairman, V.O. Chidambaranar (VOC) Port Trust, inaugurated the special storage facility for handling raw cotton at the terminal, in the presence of Mr K.V.V.G. Diwakar, Commissioner of Customs, Tuticorin, Mr S. Natarajan, Deputy Chairman, VOC Port Trust and Mr M. Senthil Kumar, Chairman, Southern India Mills’ Association (SIMA).
Adhering to the ‘Ease of Doing Business’ initiative, the raw cotton storage facility, to accommodate around 500 TEUs, was planned in the Customs-bonded area of Dakshin Bharat Gateway Container Terminal. The cotton can be stocked for a period of 30 days free of cost. Customs has issued the necessary guidelines for handling imported raw cotton and its storage in the facility.
The facility will allow international cotton traders to bring the commodity and store it in the Port yard and sell the cotton either to the mills in India or have the leverage of selling it to other countries as well. It is pertinent to note that the facility will aid textile mills in getting cotton at international prices within a short span of a week, thereby increasing yarn production in Tamil Nadu. The facility will also have a rippling effect by strengthening the textile value chain, particularly knitting, weaving, garmenting, textile processing, apparel sector, etc., thus providing employment opportunities to more than one lakh people in the state. Besides, it would lead to parity in cotton price in the Indian market.
In order to give impetus to the import of containerised raw cotton, V.O. Chidambaranar Port has agreed to levy nominal rent on the containers carrying raw cotton handled at the Port by traders.
In the second phase, a Free Trade Warehousing Zone (FTWZ) will be established in the Port estate with world class infrastructure for warehousing of raw cotton, having 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 formalities. The Port has identified 52.40 hectares of land in the Port area for setting up the FTWZ and is in the process of finalising the detailed project report for the same.
The function was graced by senior officers of VOC Port Trust and Tuticorin Customs, officials from shipping lines, Tuticorin Customs Brokers’ Association, Tuticorin Steamer Agents Association, Southern India Mills’ Association, Tirupur Exporters Association, Tuticorin Container Freight Station Association, feeder vessel operators and other stakeholders[/vc_column_text][/vc_column][/vc_row]
