The Central Warehousing Corporation (CWC) and Sagarmala Development Company Ltd (SDCL) and the New Mangalore Port Authority (NMPA) have signed a memorandum of understanding (MoU) to jointly establish a CFS (container goods station)-cum-warehousing facility at the New Mangalore Port through a special purpose entity.

Speaking after signing the MoU in Mangalore, AV Ramana, Chairman of NMPA, said the project is proposed to be developed on 16.6 acres of port land at an estimated cost of ₹125.42 crore. The contribution of NMPA will be the cost of the land offered for the project (around ₹44.25 crore). The remaining cost of the project will be equally shared by the CWC and SDCL.

He said the project is expected to be completed by June 2025. Container handling at the dedicated container terminal, which has been developed by the port in PPP (public-private-partnership) mode, has seen a growth of 8.5 per cent in just one year since its inception while handling only full container load cargo.