The ANS/ATM agreements for the proposed Rs. 1,890 crore Kannur International Airport which is expected to open Dec 31, 2015 have been inked, a Kerala minister said Thursday.
Addressing reporters here, Excise and Fisheries Minister K. Babu, who is overseeing the work at the Kannur airport said the Air Navigation Service (ANS) and Air Traffic Management (ATM) agreements have been inked with the Airports Authority of India.
"The agreement with the Indian Meteorological Department has also been inked," Babu said.
Mumbai's L&T, which is constructing the airport on over 2,000 acres of land, has completed 25 percent work on the airside (runway and taxiway) and 15 percent on the terminal building.
The funds for the airport project would come by way of debt and equity with the Kerala government holding a 35 percent stake and the rest of the equity coming from the Airports Authority of India and oil major BPCL and through private participation.
According to Babu, "Rs. 892 crores will come by way of loans from banks and these agreements will be inked in two weeks' time".
When completed this would be the state's fourth international airport, a unique record for any state in the country.