Hyd international airport project cost up by Rs 1000cr

Chennai/ Hyderabad: The project cost of the Hyderabad International airport has almost gone up by Rs 1,000 crore to Rs 2,478 crore mostly due to scaling up of the upfront capacity and facilities in line with the new growth trend in passenger traffic.
This additional cost is being completely met through debt.
Putting the project on a fast track so that the commercial operations start in March 2008, five months ahead of the 36-month time frame provided in the concession agreement, the GMR-led consortium had so far spent Rs 1,180 crore, completing 69 per cent of the overall project work.
Explaining about the progress after a media visit to the work site, T Srinagesh, chief operating officer of GHIAL (GMR Hyderabad International Airport Limited), said the reworking of the project size to 12 million capacity and subsequent provision of more passenger-side facilities such as extra passenger bays, and scaling up of other infrastructural facilities required most capital cost.
The debt-equity ratio of the project now stands at 2.1:1 with Rs 1,678 crore as debt and Rs 800 crore as equity.
10/05/07 Business Standard

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Categories: Airports May 2007, New May 2007