The Hindu : Schemes for Kochi airport approved

Online edition of India's National Newspaper
Saturday, Jun 28, 2003

Southern States

Southern States - Kerala

Schemes for Kochi airport approved

By Our Special Correspondent

THIRUVANANTHAPURAM JUNE 27. The Director Board of the Cochin International Airport Limited (CIAL) on Friday approved various schemes for the development of the airport totalling Rs. 40 crores.

These include proposals for expansion of the terminal building at a cost of Rs. 20 crores, construction of parallel taxi track (Rs. 14.5 crores) and development of apron (Rs. 3 crores). With the expansion of the terminal, the airport will have facilities for 700 passengers against 400 now.

The Board meeting, chaired by the Chief Minister, A. K. Antony, was attended by, among others, the Finance Minister, K. Sankaranarayanan, Industries Minister, P. K. Kunhalikutty, and Minister for Fisheries and Tourism, K. V. Thomas. The meeting formed a sub-committee to attend to and take decisions on urgent matters. The committee, with the Finance Minister as convenor, will have M. A. Yusafali and C. V. Jacob as members.

The airport, which incurred a loss of Rs. 18.01 crores in 2001-02, made a profit of Rs. 6.92 crores last year. It is repaying its loans at the rate of Rs. 10 lakhs a day from April 1 this year. It also switched high-cost loans from HUDCO and other financial institutions with low-cost loans. This itself had saved about Rs. 68 crores, an official release said.

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