CIAL gives green signal for IT Park project
The board of the Cochin International Airport Ltd on Thursday decided to go ahead with the proposed Rs 600 crore IT Park project at Nedumbassery, but a final decision on whether to go it alone or as a joint venture will be taken at an emergency me...
By PTI |
KOCHI: The board of the Cochin International Airport Ltd on Thursday decided to go ahead with the proposed Rs 600 crore IT Park project at Nedumbassery, but a final decision on whether to go it alone or as a joint venture will be taken at an emergency meeting at Thiruvananthapuram on Nov 17.
The board, which met this evening in the presence of its chairman, chief minister V S Achuthanandan, decided that since it was a policy matter, a final decision should be taken at the next board meeting, fisheries minister S Sharma and revenue minister K P Rajendran told reporters after the meeting.
Since the project cost is very high, every aspect needs to be looked into, CIAL managing director, Sreeram Bhagat said. Ernest and Young had prepared a feasibility report and it had gone into the pros and cons of looking at the project from both angles, he said.
The board also decided on a 10 per cent dividend, same as last year, and have its AGM on Dec 28 at Kochi. After the AGM, a decision on the public issue would be taken, Sharma said.
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