Thiruvananthapuram, Jan 29 (IANS): Defence Minister A.K. Antony will inaugurate the work on Kerala's fourth international airport at Kannur Sunday, a state minister said Wednesday.

State Excise and Fisheries Minister K. Babu, who is in charge of the airport project, said the work that begins Sunday is for construction of runway and related civil works.

"The airport near Kannur is coming up on 2,000 acres and the tender process for the next phase, which consists of the terminal building and related infrastructure, would be finalised in May this year," Babu said.

The agreement between the state government and Larsen and Toubro, Mumbai, who will undertake the first phase work, was completed in November.

The Kerala government Wednesday decided to increase its stake in the airport from 26 percent to 35 percent.

"We have increased our equity and the rest of it comes from the Airport Authority of India - 26 percent, Oil major BPCL - 23 percent, and 16 percent from private participation," Babu said.

"Numerous banks are after us to provide us loans but we have not decided on any bank," an official of the proposed airport told IANS.

By September 2015, the trial run of the airport is being planned and by Dec 31, 2015, the airport would be opened for service, he said.