The Airports Authority of India (AAI) and Kannur International Airport Ltd. (KIAL) on Wednesday signed a Memorandum of Understanding (MoU) for 26 per cent equity in the Rs.1,892-crore greenfield airport coming up at Mattannur in Kannur.
The MoU was signed between AAI Chairman R.K. Srivastava and KIAL Managing Director G. Chandramouli at a function here. Minister for Aviation K. Babu; Chief Secretary Jiji Thomson; Additional Chief Secretary, Aviation, V.J. Kurian; Executive Director, Finance, Rajesh Bhandari; and Regional Executive Director, AAI, I.N. Murthy were present.
The AAI has come forward to invest Rs.100 crore in the equity capital of KIAL. The State has 35 per cent equity (Rs.350 crore), public sector undertakings 23 per cent (Rs.230 crore), and private sector 16 per cent (Rs.160 crore). The remaining Rs.892 crore needed is term loan from banks.
Addressing the gathering before signing the MoU, Mr. Babu urged the AAI Chairman to take steps to invest the remaining Rs.160 crore in the equity capital of the KIAL.
25/06/15 The Hindu
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The MoU was signed between AAI Chairman R.K. Srivastava and KIAL Managing Director G. Chandramouli at a function here. Minister for Aviation K. Babu; Chief Secretary Jiji Thomson; Additional Chief Secretary, Aviation, V.J. Kurian; Executive Director, Finance, Rajesh Bhandari; and Regional Executive Director, AAI, I.N. Murthy were present.
The AAI has come forward to invest Rs.100 crore in the equity capital of KIAL. The State has 35 per cent equity (Rs.350 crore), public sector undertakings 23 per cent (Rs.230 crore), and private sector 16 per cent (Rs.160 crore). The remaining Rs.892 crore needed is term loan from banks.
Addressing the gathering before signing the MoU, Mr. Babu urged the AAI Chairman to take steps to invest the remaining Rs.160 crore in the equity capital of the KIAL.
25/06/15 The Hindu
