Kochi: CIAL okays Rs 600 crore IT park project

Kochi, Nov 9: 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.

Mr Bharat said the board of directors for Air Kerala was reconstituted with Mr Achuthanandan as the chairman, state Transport Minister Mathew Thomas as Director and the CIAL MD as the managing director. On the proposed aircraft maintenance facility, Mr Bharat said that a subsidiary company by the name of Cochin International Airport Services Ltd. (CIASL) had been floated for the purpose.

As this was a highly specialised area, the company was in the process of appointing a consultant to advice it on how to take the project further. The process of appointing a consultant should be over in three to four months' time, Mr Bharat said.

The construction of an aircraft maintenance hangar would take about two years to complete, he added. The investment required for the project was about Rs 150 crore.

On the proposed world class golf course close to the airport, Mr Bharat said while the CIAL had in principle decided to avail of a Rs ten crore grant to set up the project, just developing a golf course in isolation would not serve the purpose.

The construction of a club house or convention centre or hotel close to the golf course was being discussed so that the facility would be viable. This would be taken up in the second phase of the CIAL development, which is expected to be announced shortly, he added.

Others who attended the meeting included State Revenue Minister K P Rajendran, Chief Secretary Lizzie Jacob, Principal Secretary to the chief minister Sheela Thomas and directors M A Yusuf Ali, C V Jacob and George Neriyaparambil.

UNI