Uncertainty looms over Aranmula airport project

Pathanamthitta: The future of Aranmula airport project, promoted by KGS Group, is facing uncertainty, following the Mount Zion Group decision not to give the required land to set up the airport.
Addressing a news conference here on Tuesday, Mount Zion Group chairman Kalamannil Abraham said that the KGS Group violated the agreement which it entered with him on December 10, 2010. Abraham said that it failed to comply with the terms of the agreement, which expired on March 31, 2012, including the non-payment of the balance amount of `32 crore as the price of land measuring 232 acres, chairmanship of the airport company and transfer of 30 per cent of the company’s share.
He said that the KGS Group did not have the financial capability to undertake such a mega project.
Abraham said the furore over the airport project was a plan of the KGS Group to make money through real estate.
Abraham said that the Mount Zion Group would implement the airport project for flight training for the aeronautical engineering students of the Mount Zion Engineering College, air taxi services and for packaged tour operators.
23/05/12 New Indian Express/IBN Live

To Read the News in full at Source, Click the Headline

Categories: airports May 2012, New May 2012