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KITCO, the Kerala Government owned consultancy firm, has been entrusted with the task of designing an integrated building complex for the proposed Cochin Tea Trade Centre.
The award of the consultancy has been approved by the board of trustees of the Kochi Port.
Major hub for tea
According to officials, the port had proposed integrating tea trading activities on Willingdon Island to make the island a major hub for tea trade and bringing all activities under one umbrella, as done at the Dubai Tea Trading Centre, which handles more than 10 million kg a year.
DTTC is a dedicated facility offering its members warehousing, blending and packaging solutions.
Through this facility, DTTC allows international tea producers and merchants to hold stocks of tea to be readily available to meet the requirements of importers in the West Asia and adjacent regions, the officials said.
dedicated facility
The tea trading activities on the Willingdon Island are scattered over several locations in a labour-intensive manner.
However, bringing them together and harmonising the activities will give a new impetus and image to Willingdon Island as a tea trading hub with Kerala accounting for a substantial quantity of tea annually.
land approval
There are six brokers, 192 buyers and nearly 150 buyers involved in the tea trading activities here under the aegis of Tea Trade Association of Cochin.
The Port Trust plans to make 6.6 acres available to the Tea Trade Association of Cochin on nomination basis with the approval of the Union Ministry of Shipping.
finance
Discussions are on with the Tea Trade Association as the port has proposed that the association part-finance the tea complex.
govt subsidy
The Commerce Ministry has expressed its willingness to provide 50 per cent subsidy under the ASIDE — Assistance to States for Infrastructure Development and Exports, scheme.
The local tea trading association, being the only registered association representing the stakeholders here, will be the nodal agency for the project implementation.
The port officials said that the Tea Board had extended support to the project.
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