Cochin airport needs Rs 215 crore for development activities

Jays Jacob
05 February 2003

Kochi: The Cochin International Airport urgently needs development activities worth Rs 215 crore to be done, says managing director C Babu Rajeev.

Ultra modern international terminal building (Rs 175 crore), air-surveillance radar system (Rs 25 crore), full taxiway (Rs 15 crore) are included in the list.

It is to lessen the difficulties of the international terminal that a new building is being proposed. This matter has been discussed in the previous board meeting. It has also been decided to appoint a consultancy to study about the building of the new terminal and the development of the existing terminal.

The offer to invest Rs 50 crore by the Airport Authority of India will be considered in the director board meeting to be held on 14 February 2003. The award for being the best international airport in the country and the Frontier award for the duty-free shop are remarkable achievements, says Rajeev whose tenure as managing director has just got over.

After the issue regarding the repayment of loans to Hudco has been resolved by introducing a package, the company is expecting profits of Rs 3 crore this financial year. The shareholders will get dividends within two years.

Cargo exports saw an increase of 40 per cent. Weekly flight services have risen to 133. The numbers of passengers who pass through the airport come to 8.32 lakh. By March 2003, the number of foreign airlines, which operates here, will go up to seven.