Kochi, June 11: A detailed project report on the setting up of the proposed port-based Special Economic Zone at Vallarpadam and Puthuvype, near Kochi, is to be shortly submitted to the Union Ministry of Commerce and Industry for approval, according to port sources. The Cochin Port Trust board, which met here on Monday, took a decision in this regard, informed the sources. The Commerce Ministry has already accorded 'in principle' approval for setting up the project.

A draft report on the project, prepared by KITCO, a firm established by the Kerala government and the Industrial Development Bank of India, was considered for approval at the meeting.
The Cochin Port Special Economic Zone (CPSEZ) is to be set up over an area of 440 acre in Vallarpadam and 600 acre in Puthuvype. The zone would also accommodate the Vallarpadam Container Transhipment Terminal (VCTT), Bunkering Terminal, Ship repair facilties, the Single Buoy Mooring project, LNG terminal and Golf course.
The state government's clearance is also required for the project for getting exemption from payment of various taxes, water supply and electricity. Bureau Report