IN­VEST­MENT IN THE AIR­PORT SEC­TOR IN IN­DIA

SP's Airbuz - - News Briefs -

The air­port sec­tor in In­dia is set to see an in­vest­ment of about Rs 1 lakh crore over a pe­riod of five years. The in­vest­ments would be made in up­grad­ing ex­ist­ing in­fra­struc­ture at air­ports and also build­ing Green­field air­ports by the Air­ports Au­thor­ity of In­dia (AAI) as well as some pri­vate com­pa­nies. “To en­sure an in­fra­struc­ture to fa­cil­i­tate a bil­lion trips, there is go­ing to be an in­vest­ment of 5 to 6 lakh crore. In the next five years, we will see an in­vest­ment of about 1 lakh crore,” said Jayant Sinha, the Min­is­ter of State, Civil Avi­a­tion. The Union Cab­i­net has al­ready ap­proved up­grade of ex­ist­ing air­ports in the cities of Chennai, Lucknow and Guwahati. Th­ese projects will be im­ple­mented by the AAI at a cost of over 5,082 crore. “Of the to­tal amount, about 60 per cent will be raised from the debt mar­ket and the rest will be from our funds. We will be fol­low­ing the same prin­ci­ple for the next five years too and raise about 60 per cent of the 21,000 crore to be in­vested by us in the next five years,” said G.P. Mo­ha­p­a­tra Chair­man, AAI. The project will be in­cor­po­rat­ing a new de­sign phi­los­o­phy in the Chennai, Guwahati and Lucknow air­ports. The in­te­rior de­sign of th­ese ter­mi­nals will be in­spired by the lo­cal cul­ture of the cities. The project will be com­pleted by 2021.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.