Kannur Airport expected to be operational by 2014

Last Updated: Thursday, July 14, 2011 - 15:27

Thiruvananthapuram: The first Greenfield
International Airport coming up with private participation at
Kannur in Kerala is expected to be operational by 2014, a
senior minister said on Thursday.

The airport will come up at an estimated cost of Rs 1130
crore, with a paid up capital of Rs 500 crore and funds raised
through loans Rs 630 crore, Kerala Ports and Excise Minister
K Babu said in the Assembly in reply to a submission on the
subject.

The plan is to start the work of the runway by next year,
he said.

Airport Authority of India has been entrusted with the
task of preparing a Detailed Project Report.

Applications for shares to a tune of Rs 175 crore have been
received.

As per the plan, the state government would have 24 per
cent stake, 25 per cent of the shares owned by public
institutions and 49 per cent private holdings. Land acquired
and handed over to the Company by the state would be treated
as the state`s share, he added.

PTI



First Published: Thursday, July 14, 2011 - 15:27

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