Jul 14, 2011, 03.36 PM IST
The first Greenfield International Airport coming up with private participation at Kannur in Kerala is expected to be operational by 2014, a senior minister said today.
The airport will come up at an estimated cost of Rs 1130 crore, with a paid up capital of Rs 500 crore and funds raised through loans Rs 630 crore, Kerala Ports and Excise Minister K Babu said in the Assembly in reply to a submission on the subject.
The plan is to start the work of the runway by next year, he said.
Applications for shares to a tune of Rs 175 crore have been received.
Land acquired and handed over to the Company by the state would be treated as the state's share, he added.
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