Monday, November 28, 2011

Kannur Airport offers several incentives to Non Resident Keralites

On Airports: Chief Minister Oommen Chandy, along with Minister for Airports, holds talks with AAI officials and people's representatives on the Kannur airport, at the Secretariat on Monday.
After the cabinet meeting, Chief Minister Oommen Chandy said that following repeated demands from several quarters, the government has decided to lower the minimum amount for acquiring equity in the proposed Kannur international airport from Rs.200,100 to Rs.50,000. "This was a long standing demand that the minimum amount be reduced so as to help many who want to invest in the Kannur airport. This was first cleared at the board of the airport and today the cabinet accepted the demand," said Chandy.
Kannur International Airport Limited (KIAL) has already been registered and the Rs.1,200 crore airport would be built under a public-private initiative in an area of 2,000 acres near here at Mattanur in Kannur district. It is expected to open in 2013.
There was a huge hue and cry from the diaspora when the previous Left government decided to fix the minimum amount at Rs.200,100 and when the Chandy government took over in May this year, they announced that they would ensure that even the ordinary diaspora can become an investor in Kannur airport.

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