CIAL decides to go ahead with Rs 600 crore IT park project

Kochi, Nov 9 (UNI) The Cochin International Airport Ltd. (CIAL), operating the country's first joint sector airport at Nedumbaserry, near here, has decided to diversify into the information technology sector with the setting up of a Rs 600 crore IT Park on surplus land available with it.

Announcing this after a meeting of the Board of Directors, presided over by Chief Minister V S Achuthanandan, here today, Board Member and state Fisheries Minister S Sharma said it was unanimously decided that the CIAL should go ahead with the project.

The equity holding and other details would be discussed at an emergency Board meeting in Thiruvananthapuram on November 17.

As the ambitious project required an investment of nearly Rs 600 crore, a policy decision would have to be taken on whether the CIAL should go it alone or take it up as a joint venture, CIAL Managing Director Shreeram Bharat said.

He said the feasibility report on the project by consultants Ernst and Young had been submitted to the Board.

About the proposed budget airline, Air Kerala, Mr Bharat said it was decided that the chief minister would take up with the Union Civil Aviation Ministry the matter of granting a special concession to Kerala to start the airline on the Gulf route without completing the mandatory five years of domestic service.

''We are hopeful that the Centre would favourably consider our request,'' he said.

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