The Cochin Port Trust (CPT) has decided to lease out around 23 acres of its land in the city for commercial, industrial and hospitality activities. The authority has invited the tender to lease out 11.8 acres at Willingdon Island and 10 acres at Vallarpadam.
According to a press note issued by the authorities, the land alongside NH-966B at Willingdon Island would be leased out for 30 years for commercial/industrial/hospitality activities. There are two plots with 2.50 acre each, bordering the national highway, which are under tender apart from two other plots with 2.88 acre and four acre area.
At Vallarpadam, the land opposite the International Container Transhipment Terminal (ICTT) would also be leased out. The plots are at a distance of about 200m from NH-966A.
The plots which are going to be leased out are prime waterfront locations in the city. Cochin Port Employees Organization (CPEO) has already launched a protest against leasing out of the property near the port office at Willingdon Island. C D Nandakumar of CPEO said that the leasing out of land was part of the strategy of the Union to monetize its properties.
