Kerala Chief Minister Pinarayi Vijayan has reiterated his stand on big projects like building and maintaining airports that can be effectively carried out under the aegis of the State Government.

The success of Cochin International Airport Ltd model emphasizes the relevance of PPP in airport infrastructure development, he said at the 26th AGM of CIAL which was held through online platform.

“It is a misapprehension that complex projects like development of airport infrastructures have to be fully entrusted with the private sector. CIAL re-scripted it. This PPP venture demonstrated that the participation of the Government in such projects too could be effective in delivering professionalism and beneficial to the people”, he said.

Infrastructure development projects are implemented by acquiring the land and mind of the common men. They ought not to be privatized. CIAL model is inclusive. It addresses the issues of the people too. “When this board of directors took charge in 2016, there were 7,000 people working at the airport premises. The number has grown to 12,000 in March 2020 and it is growing”, the Chief Minister said.

The AGM endorsed the proposal of board of directors to award 27 per cent dividend to shareholders for FY 2019-20.

CIAL, which has an investor base of 19,000 shareholders from 30 countries has been giving dividend unfailingly since FY 2003-04 and with this year, the total dividend payout has touched 282 per cent. The company registered a turnover of Rs655.05 crore in FY 2019-20 with a profit of Rs 204.05 crore.

The company, he said, has invested around Rs 2,000 crore in the capacity-enhancement projects of the airport and still not collecting user development fee from passengers. The total installed capacity of solar power plants at the airport has also been enhanced during this period. It was 15.5 MWp and 25 MWp was added during this period.

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