Malaysia Airports May Take Up 15 Per Cent Stake In Kerala’s New Airport


October 31, 2012 11:39 AM

Malaysia Airports May Take Up 15 Per Cent Stake In Kerala’s New Airport

By Saraswathi Muniappan

NEW DELHI, Oct 31 (Bernama) -– Malaysia Airports Holdings Bhd (MAHB) may take up 15 per cent stake in the KGS ranmula International Airport Ltd, being built in Aranmula, a temple town in South Indian state, Kerala, by Chennai-based KGS Group.

The Rs2,000 crore (US$367 million) airport on a 280ha land is expected to start operations in 2014, the “Business Standard” daily reported.

“We had some discussions on offering equity to Malaysia Airports. They are already our technical and strategic partners for the project.

“We may look at diluting up to 15 per cent,” KGS Group Managing Director Gigi George was quoted as saying.

Industry sources said the Kerala state government was also keen on taking up about 10 per cent stake in the company.

However, George declined to comment, said the report.

“We’ve already acquired the land for the project and the airport is designed to cater to aircraft like Airbus A-320 and Boeing 747,” George said.

The airport to be privately owned and managed will be able to handle 1,000 passengers at a time.

This aeropolis is also being developed along with a special economic zone, multi-specialty hospital, shopping mall, star hotels and an international school.

MAHB operates and manages 39 airports in Malaysia. They also provide airport management services for New Delhi and Hyderabad international airports in India and Sabiha Gokcen International Airport in Turkey.

The world’s 11th richest Indian, Anil Ambani-led Reliance group has 15 per cent stake in KGS Group.

— BERNAMA

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