KOCHI : Cochin Port Authority (CPA) is going to lease out 55.30 acres of its land in the city for commercial, industry and hospitality activities.

CPA has invited tenders for leasing out its land at the south end of Willingdon Island for a period of 30 years.

According to a press note issued by the CPA, the triangular piece of land alongside the NH-966B with waterfront on two sides is ideal for developing projects in the hospitality/commercial sector.

“The plot is the biggest in area among the land leases allowed by CPA in the past for similar purposes, and has connectivity to the city and Cochin International Airport. Constructions up to 40m height are possible in the land, which is suited for establishing hotels, convention centres, commercial complexes, etc.” says the press note.

For participating in the tender, the bidders should have a minimum average annual turnover of Rs 64.16 cr.