Thiruvananthapuram: Larsen & Toubro Tuesday signed a contract with Kannur International Airport (KIAL) to construct runway and airside at the Kannur airport, scheduled to open Dec 31, 2015.
The contract for engineering, procurement and construction (EPC) work was awarded to L&T Nov 5.
Ports Minister K. Babu, who also handles the aviation portfolio, told reporters here that 49 percent of the Rs.1,000 crore authorised share capital of KIAL has been kept aside for individuals, who can now apply for buying shares.
Babu said investing in airports in the state has proved to be successful, as in the case of the country's first airport under the public-private partnership (PPP) model, Cochin International Airport.
The equity of the airport includes 26 percent for the state government, 23 percent has been given to state and central public sector units, two percent to INKEL (Infrastructures Kerala Limited, a Kerala government company) and the remaining 49 percent would be for individuals.
Airport managing director G. Chandramouli said those individuals who wished to subscribe to the shares can log on to the www.kannurairport.in and inform their interest.
The Kannur airport is coming up in an area of around 2,000 acres and is expected to cost Rs.1,800 crore.
26/11/13 IANS/Business Standard
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The contract for engineering, procurement and construction (EPC) work was awarded to L&T Nov 5.
Ports Minister K. Babu, who also handles the aviation portfolio, told reporters here that 49 percent of the Rs.1,000 crore authorised share capital of KIAL has been kept aside for individuals, who can now apply for buying shares.
Babu said investing in airports in the state has proved to be successful, as in the case of the country's first airport under the public-private partnership (PPP) model, Cochin International Airport.
The equity of the airport includes 26 percent for the state government, 23 percent has been given to state and central public sector units, two percent to INKEL (Infrastructures Kerala Limited, a Kerala government company) and the remaining 49 percent would be for individuals.
Airport managing director G. Chandramouli said those individuals who wished to subscribe to the shares can log on to the www.kannurairport.in and inform their interest.
The Kannur airport is coming up in an area of around 2,000 acres and is expected to cost Rs.1,800 crore.
26/11/13 IANS/Business Standard
