Infrastructure,Infrastructure sector projects by Kannur Internation Airport Limited in Kannur
Project Information
5634
Kannur Internation Airport Limited
Work on the ambitious Kannur airport, one of the flagship projects of the State Government, is all set to start on February 2. Defence Minister A K Antony will launch the commencement of works on Sunday, Aviation Minister K Babu said here on Wednesday.
Addressing mediapersons after making a statement in the Assembly, Babu said that it is a proud moment for the government as all hurdles have been crossed, including availing of all mandatory clearances, for making the Rs 1,792-crore project a reality.
“The project planned on 2000 acres of land is poised to give a big leap to the development hopes for the state in general and Malabar region in particular. It has found tremendous acceptance amongst funding agencies including banks now. The government is charting a time-bound course by which the first flight will take off from the Kannur airport on December 31, 2015,” he said.
Chief Minister Oommen Chandy will preside over the works launching ceremony, at 3 pm on Sunday. “The Airports Authority of India (AAI) has decided to invest a sum equivalent to 26 per cent of the value of shares in the project, which is around Rs 204 crore, after discussions held recently. The MoU will be inked soon,’’ he said.
“Public sector and scheduled banks are also vying with each other now to invest in the project,” he added. BPCL has already invested Rs 174 crore, along with various public sector concerns, for which, a total 23 per cent of shares has been earmarked. The authorised capital of the project is Rs 1,000 crore.
To be implemented by the Kannur International Airport Ltd, the greenfield project’s share pattern was restructured recently after it was found that the general public is not much enthusiastic to pick shares of the company
Project Value
INR 1792 Crore /-
Advanced Stages of Commissioning
Kannur
Kerala
India
Infrastructure,Infrastructure
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