Cochin International Airport Ltd (CIAL) is not for privatisation and will remain as a public-private sector joint venture, a spokesman of the company.
A leading business daily had reported that eight airports including Kochi International Airport may be privatised by the government. The other airports mentioned are Chennai, Kolkatta, Kochi, Pune, Ahmedabad, Jaipur, Lucknow and Guwahati.
CIAL was established as India’s first greenfield airport thorugh pubic private participation (PPP) with several Non-Resident Indians (NRI’s), financial institutions, industrialists, airport service providers and the State Government having stakes in the company. According to CIAL there are 18,000 shareholders from 29 countries in the venture.
CIAL had opened its third terminal for international passengers in March. It was set up in an area of 1.5 lakh sq m. and 2.5 times bigger than the existing two terminals. Among its unique features is a car park with solar panels.
The old international terminal will be converted to a domestic teriminal at a cost of Rs 160 cr. The new facility will have a bar for alcoholic beverages and aero bridge at seven gates connecting the aircraft directly to the terminal.