‘Big sharks’ won’t get large slices of Kannur airport: Achuthanandan

Wednesday, January 12, 2011

THIRUVANANTHAPURAM - Kerala Chief Minister V.S. Achuthanandan Wednesday reiterated that “big sharks” would not be allowed to get away with a large slice of shares of private investment in the Kannur airport.

“We have fixed that anyone desirous of applying for shares should apply for a minimum amount of Rs.2.01 lakh. At the same time, we will see that the big investors won’t walk away with a giant portion of the shares kept for private investors,” said Achuthanandan.

Forty-nine percent of shares have been kept for private individuals in the airport.

A controversy had broken out after it was reported that Mumbai-based Leela Hotel group and Infrastructure Leasing & Financial Services Limited (IL&FS), one of India’s leading infrastructure development and finance companies, were eyeing a major stake in the airport.

A company, Kannur International Airport Limited (KIAL), has already been registered.

The new airport, which is coming up over 2,000 acres, will see the state government holds 26 percent of the shares, 23 percent are given to state public sector units, two percent to INKEL (Infrastructures Kerala Limited), a Kerala government company, and the remaining 49 percent would be open for private participation.

Achuthanandan has been strongly suggesting that the 49 percent should be given to the maximum number of people and should not be allowed to go to a few people.

“We will see to it that shares are not going to be held by a few who would have an iron grip in the running of the airport,” added Achuthanandan.

Filed under: Economy

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