CIAL TO Bid for Airport Privatization across Country

28 September2012
Kochi

As part of expanding its operations, the Cochin International Airport Limited (CIAL) will participate in the bids to be floated to privatise various airports across the country.

The CIAL managing director has been entrusted with the responsibility of taking further steps in this regard, Chief Minister Oommen Chandy has said.  The Chief Minister was speaking at the 19th annual general meeting of the CIAL here on Friday.

If guidelines are relaxed by the Central Government, Kerala will go ahead with the Air Kerala project, he said.Chandy said a two-storey international terminal with modern facilities will be constructed at the Kochi airport.

“The terminal will have an area of 1.5 lakh sq m and will have the capability to handle about 4,000 passengers in an hour. The terminal will have 112 check-in counters, 19 gates and 15 aerobridges. With the visa-on-arrival facility in place at Kochi airport, tourists from 11 countries will be benefited. Initiatives are on to make CIAL self-sufficient in power.

In all, 55 families who had surrendered land for the airport project will be rehabilitated  this financial year. The widening of Athani-Airport road will be completed this fiscal,” the Chief Minister said.

The revenue of CIAL  has increased 11.08 per cent to `306.50 crore in 2012-13 fiscal. The company registered a profit after tax of `111.41 crore during the period. The CIAL will give 17 per cent dividend (`1.70 per share) to shareholders.

The AGM re-elected C V Jacob, M A Yousuf Ali and P Mohamed Ali as CIAL directors and also passed the resolution to appoint Chief Secretary E K Bharat Bhushan as the director of the company.

Source– http://newindianexpress.com

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