Federal Bank extends Rs 500 crore to Cochin airport

Federal Bank has sanctioned a term loan of Rs 500 crore to Cochin International Airport Ltd (CIAL) for the construction of a new international terminal next to the existing airport complex.

The new international terminal 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 VJ Kurian, managing director of CIAL, and Shyam Srinivasan, MD & CEO of Federal Bank, here.

Palakkad Coconut, CFTRI ink pact
Palakkad Coconut Producer Company Limited (PCPCL) has inked an MoU with Central Food Technological Research Institute (CFTRI)for research and development in Neera processing and packaging and development of derivatives.

PCPCL consists of over 26,000 coconut farmers in the Palakkad district. The MoU was signed by Vinod Kumar, chairman of PCPCL and Mallika Kumar, secretary of CFTRI.

PCPCL will be paying a fee of 1 per cent of its sales turnover to CFTRI, and in return, CFTRI will extend a long-term partnership in developing, standardising and commercialising technology for processing and packaging of Neera and its derivatives.

CFTRI has displayed five major products-Neera concentrate, Neera honey and bottled Neera in pet bottles, glass bottles and cans. PCPCL has already opened six retail outlets for Neera.