Tuesday, January 22, 2008

Kannur airport gets Central Government approval

The Union Government on Thursday approved the proposal of Kerala's 4th airport at Kannur through public-private partnership.

The proposed airport would also act as a cargo hub for perishables like flowers, vegetables, fruits and sea food. As per details of the project, the airport would be built over 2,000 acres of land and have a single runway. Sanction has already been accorded for land acquisition.

The project would be implemented at an estimated cost of about Rs 930 crore, excluding costs relating to land acquisition, resettlement and rehabilitation that would be borne by Kerala. A joint venture company would be set up between a private strategic partner with a 74 per cent equity and state government entity KINFRA, which would have 26 per cent. The state government would select the strategic partner through a competitive bidding process with guidance from the Centre .

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