CIAL development projects to be completed by 2015

Kochi, Dec 28 (UNI) Cochin International Airport Limited (CIAL) Managing Director S Bharath today said the Rs 3,500-crore development project to convert the area surrounding the Cochin International Airport into an airport city would be completed by 2015.

Speaking to reporters after the 12th annual general meeting (AGM) here, Mr Bharath said the development projects, including IT park, aircraft maintenance repair and overhaul facility (MRO), golf course with other amenities and a hospital to promote health tourism would be completed by 2015.

Detailing about the projects, he said the Rs 640 crore IT Park spread over 35 acres with a built-up area of 3.81 million square feet was expected to attract several IT companies.

The MRO facility clubbed with Aviation Training Institute at an estimated cost of Rs 200 crore would have three hangars, he said adding that the hangars, include two maintenance facility for small aircraft, two for big aircraft and four other hangars.

He said the first phase of the project, including IT Park, maintenance facility and golf course would be completed in a span of three years.

The training centre would be imparting training to pilots, cabin crew, engineers and technicians in association with Cochin University of Science and Technology, he informed.

In a bid to woo more tourists to Kerala, the company was planning to construct a Rs 10 crore golf course with all the amenities, country club and budget hotels in a phased manner, he added.

He said CIAL was also planning to construct a hospital at an estimated cost of Rs 250 crore by laying emphasis on Ayurveda and treatment for eye and heart.

Mr Bharath said the funds for the projects would be raised through a combination of debt and equity.

Apart from total project cost of Rs 3,500 crore, need-based fund of Rs 1,500 crore would be provided, he added.

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