Federal Bank, a private sector lender, has sanctioned a term loan of Rs 5 billion to Cochin International Airport (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, and is proud to be associated with the prestigious project of the new International Terminal which is an integral part of the expansion plans of CIAL.

The New International Terminal would enhance the traffic handling capacity of the Airport to meet its future requirements.

The agreement for the Rs 5 billion term loan facility was signed by V J Kurian IAS, managing director of CIAL, and Shyam Srinivasan, MD & CEO of Federal Bank, in the presence of senior executives of CIAL and Federal Bank, at a ceremony held at Cochin International Airport, Nedumbassery today.

Shares of the bank declined Rs 0.1, or 0.08%, to settle at Rs 125.40. The total volume of shares traded was 217,026 at the BSE (Monday).