Cochin airport investors set to reap profits
All those who invested money in the Cochin International Airport (CIAL) have got their money back by way of dividend, said Kerala Chief Minister Oommen Chandy Wednesday.
Speaking to reporters after the cabinet meeting, Chandy said he received Wednesday, on behalf of the state government, a cheque of Rs.16.78 crore, being the share of the government in the dividend for the last fiscal.
"This is a historic moment, because with this cheque, the state government has recovered its investment in the CIAL and with last year's 17 percent dividend, all the shareholders have got back their investment also," Chandy said.
CIAL is a first-of-its-kind airport developed under the Public-Private Partnership model, where airport users (mainly NRI investors) joined hands with the government of Kerala and airport service providers to build the international airport, which commenced operations in 1999.
Spread over 1,300 acres -- 800 acres utilised for airport facilities and 500 planned for aviation and city infrastructure -- the airport has an investor base of 11,000 individuals from 30 countries.
The total paid up capital of the airport is Rs.306.06 crore, of which the Kerala government has invested Rs.98 crore.
(Posted on 24-10-2013)