Cochin International Airport (CIAL) is
investing around Rs.3,500 crore ($790 million) for the expansion of Cochin
international airport within a period of five years.
CIAL, the first airport outside the
domain of the Airports Authority of India, was formed as public limited company
with equity participation from the Kerala government, financial institutions and
a large number of non-resident Indians (NRIs), a majority of which are Keralites
based in the Middle East.
It is also learnt that there are 18
projects which have been cleared, including a Rs.6.40 billion IT park, an
aviation academy, a maintenance and hangar unit, star hotels and a golf course,
all coming up in the 500 acres of land which is with CIAL near the airport.