Govt to mobilise 49% equity from mkt for Kannur airport

Last Updated: Thursday, April 1, 2010 - 00:27

Thiruvananthapuram: Seeking to fast-track
the work at the proposed Kannur airport in Kerala, the state
government has decided to mobilise 49 per cent equity from
open market while retaining 51 per cent in the public sector.

Chief Minister V S Achuthanandan said last night that the
government would hold 26 per cent of the equities directly, 23
per cent would be set apart from public sector undertakings,
and two per cent for the company promoted for the purpose by
the government.

The plan is to develop the airport on the lines of the
Cochin International Airport (CIAL), a joint venture project
which has proved a big success.

A total of 2,200 acres of land would be acquired for the
airport on fast-track mode.

As in the case of CIAL, the Chief Minister would be
chairman of the company.

Kannur would be the fourth airport in the state after
Thiruvananthapuram, Kochi (Nedumbassery) and Kozhikode

According to civil aviation experts, development of
Kannur airport would give a fillip to air travel and goods
movement considering the Gulf connection of people from the
north Malabar region.


First Published: Thursday, April 1, 2010 - 00:27

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