Kannur airport to be ready by 2014

Thiruvananthapuram: The shares of the Kannur International Airport Ltd will be available at a premium for those who have applied after June 16, Ports and Airports Minister K Babu told the Kerala Assembly.
So far the company - which is building the state’s fourth international airport in the northern district - has received applications for shares worth Rs1.75bn.
The minister said the rate of premium for the late applicants will be decided by a committee later.
Subscribers should apply for a minimum of 2001 shares with a face value of Rs100.
A sub-committee has been formed to decide on the shareholding pattern of individuals and private business groups.
The KIAL has issued shares worth Rs50mn each to the public sector Kerala State Beverages Corporation (KSBC) and Kerala Minerals and Metals Ltd (KMML) and Rs1mn to the Kerala State Industrial Enterprises.
“We have also fixed a timeline for completing the project without delay. The work on the runway will begin next year and the first phase of the airport will be ready by 2014,” the minister said in response to a submission moved by local legislator A P Abdullakutty.
The techno-economic feasibility study has been completed and the government of India has accorded in-principle approval for the project.
Nearly 1276 acres of land has been acquired so far and notification for the remaining 783 acres issued. The government is in the process of handing over the land to the KIAL.
16/07/11 Ashraf Padanna/Gulf Times

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Categories: Airports Jun 2011, New Jun 2011