CIAL to embark on multi-pronged diversification plans: MD

Kochi, Aug 8 (UNI) The Cochin International Airport Limited (CIAL), the first Indian venture in the Civil Aviation Sector with private participation, has decided to embark on diversification activities, including construction of airports in various parts of the country, using its expertise in the field.

With nearly 35 small new airports slated to come up in different parts of the country soon to tap the growing tourism potential, it had already held discussions with Maharashtra and Uttar Pradesh Governments in this regard, CIAL Managing Director Sriram Bharat said.

The eight-year-old CIAL, which earned global acclaim for commissioning the Kochi international airport in record time with lowest gestation period, was in a position to quote the lowest tender rates for such projects and was confident of commissioning such projects in the shortest possible time, Dr Bharat asserted.

Setting up of a Special Economic Zone (SEZ) that could attract Central financial assistance, a golf course of international standards, construction of a Rs 100 crore warehousing facilities for handling export cargo, especially perishable goods, using CIAL's huge surplus land at its disposal within the airport complex, were in various stages of implementation.

Starting an airline service either independently or on joint venture basis to exploit the growing traffic on the Gulf sector was another major project taking final shape.

This would be a highly profitable proposition in the light of the Centre's proposal to go in for an early open skies policy with a view to tap the fast growing international tourist traffic, he said.

Taking pride of the impressive 40 per cent sales growth being maintained for the third year in succession by the duty free shop, operated jointly by CIAL and Alpha Kreol, he said CIAL would be able to do away with aircraft landing charges and offer several other concessions to the airport users if it succeeded in maintaining its present tempo of operational growth in revenue.

The CIAL was projecting a revenue of Rs 125 crore for the current financial year against an earning of Rs 112 crore during 2006-07, netting 33 per cent in profit, Dr Bharat added.

UNI