Kochi: Keeping in view the additional fund requirements for meeting the
capital expenditure for its long-term expansion plans, the Cochin
International Airport Limited is all set to raise its borrowing limits
of the company to Rs.1500 crore from the current ceiling of Rs.300
crore.
As per CIAL annual report 2014-15, a special resolution with regard to raising the credit cap will be presented during its annual general meeting (AGM) to be held on August 29 for the approval of its shareholders. The proposal, being initiated with a view to finance its ongoing and future projects and enhanced working capital needs of the company, had already been approved by the company director board during its meeting on December 2013.
The current limit on borrowing for the company was set during an extra ordinary annual general meeting of the company in August 2000.
The move follows an ambitious expansion plan by the airport company unveiled earlier this year, which envisages construction of a state-of-the-art international terminal to keep pace with its growing status and ever-increasing passenger traffic. To be established at a cost of Rs.977 crore, the terminal will have a built-up area of 15 lakh sq. ft with a peak hour capacity to handle 4,000 passengers, as against the present capacity of 1,200 passengers.
Read news in full 30/07/14 Hari Krishnan/The Hindu
As per CIAL annual report 2014-15, a special resolution with regard to raising the credit cap will be presented during its annual general meeting (AGM) to be held on August 29 for the approval of its shareholders. The proposal, being initiated with a view to finance its ongoing and future projects and enhanced working capital needs of the company, had already been approved by the company director board during its meeting on December 2013.
The current limit on borrowing for the company was set during an extra ordinary annual general meeting of the company in August 2000.
The move follows an ambitious expansion plan by the airport company unveiled earlier this year, which envisages construction of a state-of-the-art international terminal to keep pace with its growing status and ever-increasing passenger traffic. To be established at a cost of Rs.977 crore, the terminal will have a built-up area of 15 lakh sq. ft with a peak hour capacity to handle 4,000 passengers, as against the present capacity of 1,200 passengers.
Read news in full 30/07/14 Hari Krishnan/The Hindu
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