This Article is From Sep 27, 2014

Federal Bank Sanctions Rs 500 Crore Term Loan to Cochin International Airport

Federal Bank Sanctions Rs 500 Crore Term Loan to Cochin International Airport

Kochi: Federal Bank has sanctioned a term loan of Rs 500 crore to Cochin International Airport Ltd (CIAL) for the construction of its new international terminal.

The private sector lender has been partnering the growth of Cochin international Airport from its inception, a press release in Kochi said.

The New International Terminal, coming up next to the existing airport complex, would enhance the traffic handling capacity of the airport to meet its future requirements.

The agreement for the Rs 500 crore term 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 on Friday.