The Ministry of Transport on Wednesday designated Central Japan International Airport Co. as a firm to build and manage a proposed international airport off Nagoya.

The Nagoya-based semipublic company was founded May 1 with the aim of building the international airport on a man-made island in Ise Bay by 2005. The firm, with initial capital of 322 million yen, has 122 employees.

“The Aichi Exposition will be held in 2005. This will present us a great business opportunity. Although the target of (building the airport by) 2005 is challenging, we will make our best efforts,” said Yukihisa Hirano, president of the company.

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