Sunday, March 19, 2006

Chennai, Kolkata airports to be upgraded

New Delhi: The government is planning to use the Delhi-Mumbai model to modernise Kolkata and Chennai airport.The second part of the government's airport modernisation programme is ready to go and is currently waiting for the Cabinet's clearance.
CNN-IBN has learnt that Kolkata and Chennai will be modernised exactly like Delhi and Mumbai which means a private player will be invited to take over the airports to modernise it.According to the Delhi and Mumbai model private players are allowed up to 74 per cent equity in a joint venture with the Airports Authority, but for foreign companies this cap is at 51 per cent.
The private consortium, which agrees to share the maximum revenue with AAI, wins the bid and takes over the management of the airports. The Airports' Authority of India will get a chance to showcase their technical skills and they will have 35 non-metro airports to transform. Cities like Varanasi, Ahmedabad, Jaipur and Srinagar figure in this list.
18/03/06 Sandeep Banerjee & Arijit Banerjee/CNN-IBN
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