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Wednesday, May 24, 2006

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CIAL studying Rs 3,450-cr investment plan

Our Bureau

Thiruvananthapuram , May 23

Cochin International Airport Ltd (CIAL) is considering a Rs 3,450-crore investment plan prepared for it by consultants Ernst and Young.

Top officials of CIAL briefed the Chief Minister, Mr V.S. Achuthanandan, on various features of the project during a meeting held at his official chambers here on Tuesday.

The project envisages the setting up of infrastructure facilities for aviation maintenance and business and leisure/entertainment activities for high-spending travellers within the precincts of the airport.

Yard for repairs

The project report also examines the financial viability of having a full-fledged yard for repairs and maintenance of passenger and cargo planes at the airport.

CIAL has nearly 200 hectares of land in its possession surrounding the airport. The E&Y proposals include setting up of a golf course and construction of convention centre, a cultural centre and a big shopping mall.

The discussions were of a preliminary nature, according to Mr Achuthanandan, who, in his capacity as Chief Minister, holds charge as Ex-Officio Chairman of CIAL.

The board of directors would take a decision on the project after studying the proposals in detail, he said.

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