Kerala opts for BOO route to develop fourth airport

Thiruvananthapuram: Kerala Government has decided to award the development of the State's fourth airport at Kannur to a strategic partner under the build, operate and own (BOO) route.
Leela group chairman Capt Krishnan Nair, who has been campaigning for the BOO route as opposed to build, operate and transfer (BOT), is expected to a crucial bidder for the 74 percent stake in the new green field international airport to come up near his hometown in the State's north.
Federal Minister Priyaranjan Dasmunshi had announced in January that the airport, initially with one runway, would come up on 2,000 acres at an estimated Rs 9.29 bn (at Moorkanchery outside the municipal limits).
The estimate excludes costs of land acquisition, resettlement and rehabilitation, all of which would be borne by the State Government.
A Joint venture Company (JVC) between Kerala Industrial Infrastructure Development Corporation with 26 percent equity participation and the strategic partner with 74 percent equity participation would implement the project.
01/06/08 John Mary/Peninsula On-line, Qatar

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Categories: Airports Jun 2008, New Jun 2008