CIAL to float Rs 100 cr state-of- the-art warehouse

Written by Corporate Bureau | Kochi, Aug 7 | Updated: Aug 8 2007, 06:56am hrs
The Cochin International Airport Limited (CIAL) has decided to embark on diversified activities including construction and maintenance of warehouses. CIAL will invest Rs 100 crore to set up a state-of- the-art warehouse that can store high value merchandise and equipment, CIAL managing director Sriram Bharat told FE. The warehouse can be used by international companies, including aircraft manufacturers to store electronic, electrical and mechanical parts that are frequently replaced, he said. The facility can be utilized as a hub to service the entire South Asia, when CIAL's MRO (maintenance, repair and overhaul) facility becomes operational, he added.

CIAL's centre for perishable cargo (CPC) will become operational soon and this endeavor is expected to increase the export of fresh vegetables and fruits from the nation, he said. The facility can also be leased or rented to big retail chains that are interested in making Kochi a hub for their perishable cargo operations. The 25,000-sq.ft complex can handle 30,000 tonne of cargo per annum, he said.

The company will also take up construction of small airports in various parts of the country using its expertise in the field. It has already held discussions with Maharashtra and Uttar Pradesh state governments in this regard, Bharat said. The company is also constructing a golf course of international standards using CIAL's huge surplus land. CIAL has applied for SEZ status for its proposed IT Park.

The impressive 40 % sales growth being maintained for the third year in succession,by its Duty Free shop, operated jointly by CIAL and the multinational Alpha Kreol,would help CIAL to do away with aircraft landing charges in the future, he said.