HPCL, BPCL seek stake in Kannur airport

New Delhi: State-owned Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) are in the race to make “participatory investment” in the proposed greenfield international airport at Kannur in North Kerala.
The move by these two follows a call given by the Kerala Government for 23 per cent equity participation by public sector undertakings in the proposed airport project.
The HPCL board, at its meeting held here on February 9, had given its approval to explore the possibility of taking up 11 per cent equity stake amounting to Rs.55 crore in the proposed airport project.
Following the board approval, HPCL would now make an offer to Kannur International Airport Limited (KIAL). The investment proposal, however, comes with a rider. It calls for grant of rights to HPCL for design/development/operation/maintenance of all fuel facilities and into-plan operations at the airport, either solely or jointly with KIAL.
22/02/12 Sujay Mehdudia/The Hindu

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Categories: airports Feb 2012, New Feb 2012