Kochi: The Federal Bank has sanctioned a term loan of Rs. 500 crore to
the Cochin International Airport Ltd (CIAL) for the construction of its
new international terminal.
The agreement for the loan facility was signed by V.J. Kurian, managing director of CIAL, and Shyam Srinivasan, managing director and chief executive of Federal Bank, in the presence of senior executives of CIAL and Federal Bank at a ceremony held at the airport here on Friday.
The loan assistance, with a floating interest rate, will be for a term of 16 years with a moratorium of three years.
The airport company has also commenced works on the terminal building, which will be established Read news in full .28/09/14 The Hindu
The agreement for the loan facility was signed by V.J. Kurian, managing director of CIAL, and Shyam Srinivasan, managing director and chief executive of Federal Bank, in the presence of senior executives of CIAL and Federal Bank at a ceremony held at the airport here on Friday.
The loan assistance, with a floating interest rate, will be for a term of 16 years with a moratorium of three years.
The airport company has also commenced works on the terminal building, which will be established Read news in full .28/09/14 The Hindu
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