Private lender Federal Bank today said it has sanctioned a term loan of ₹500 crore to Cochin International Airport Ltd (CIAL) for the construction of the new International terminal that will come up next to the existing airport complex.
“Federal Bank has been partnering the growth of Cochin international Airport from its inception...The New International Terminal would enhance the traffic handling capacity of the Airport to meet its future requirements,” Federal bank said in a statement.
The bank’s shares ended almost flat at ₹125.40 per share, nudged down by ₹0.10 (0.08 per cent) on the Bombay Stock Exchange.