NMPA signs MoU with CWC and SDCL to develop CFS

The New Mangalore Port Authority (NMPA) has signed a memorandum of understanding with Central Warehousing Corporation (CWC) and Sagarmala Development Company Limited (SDCL) to develop a container freight station-cum-warehousing facility at the port. It is proposed to be developed on 16.6 acres of port land at an estimated cost of Rs 1.25 billion. The contribution of NMPA will be the cost of the land offered for the project, around Rs 442.5 million, while the remaining amount will be contributed equally by SDCL and CWC. Besides, a special purpose vehicle has been formed and the project is expected to be completed by June 2025.