Kochi: The Federal Bank has sanctioned a term loan of Rs. 500 crore to the Cochin International Airport Ltd (CIAL) for the construction of its new international terminal.
The agreement for the loan facility was signed by V.J. Kurian, managing director of CIAL, and Shyam Srinivasan, managing director and chief executive of Federal Bank, in the presence of senior executives of CIAL and Federal Bank at a ceremony held at the airport here on Friday.
The loan assistance, with a floating interest rate, will be for a term of 16 years with a moratorium of three years.
The airport company has also commenced works on the terminal building, which will be established at a cost of Rs.977 crore.
28/09/14 The Hindu
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The agreement for the loan facility was signed by V.J. Kurian, managing director of CIAL, and Shyam Srinivasan, managing director and chief executive of Federal Bank, in the presence of senior executives of CIAL and Federal Bank at a ceremony held at the airport here on Friday.
The loan assistance, with a floating interest rate, will be for a term of 16 years with a moratorium of three years.
The airport company has also commenced works on the terminal building, which will be established at a cost of Rs.977 crore.
28/09/14 The Hindu
