Kannur airport to begin operations in 2015

Pakistan Telegraph (IANS) Tuesday 7th February, 2012

Kerala's fourth international airport at Kannur would begin operations in 2015, K.Babu, the state's minister in charge of the airport, said Tuesday.

Babu told reporters here that the state government, which has a 26 per cent stake in the airport to be built under public-private partnership, had handed over the required land for the airport.

'Today we have transferred 453 acres of land to the Kannur International Airport Limited (KIAL). Earlier, the government had acquired 192 acres of land and the balance land would be leased out to them and for that the cabinet will make the decision shortly,' added Babu.

The airport would come up in an area of around 1,300 acres about 25 km from Kannur.

'The Cochin International Airport Limited will submit the detail project report in April and then the tender would be floated to find the builder. We expect that the first aircraft will touch down at Kannur in 2015,' said Babu.

The shareholding pattern that has been cleared by the KIAL would be 26 per cent for government, 23 per cent for the state-owned public sector organisations, two per cent for government companies and 49 per cent for small investors and institutional investors.

'Several state-owned public sector companies have come forward, seeking shares. Also we have received share application from numerous individuals. Those desiring to take shares can still come forward. The minimum amount for share application has been reduced from Rs.2,00,100 to Rs.50,000,' added Babu.

Former Air India chairman V. Thulasidas, currently the managing director of KIAL, said the total project cost of the airport has been fixed at Rs.1,130 crore, of which Rs.500 crore would come by way of equity and the rest through debt.

With the operationalisation of the Kannur airport by 2015, Kerala will be the only state in the country to have four international airports.