Airports Authority of India to get mini-ratna status

New Delhi: The Centre has agreed in principle to grant "mini-ratna" status to Airports Authority of India (AAI) to enable it to take up projects worth up to Rs 500 crore without taking government approval.
Such a decision would also enable AAI to form joint ventures with private companies to modernise airports and aviation infrastructure across the country, sources in the Civil Aviation Ministry said.
At present, the profit-making public sector company needs government nod to undertake projects more than Rs 150 crore. After getting the mini-ratna status, AAI would be able to take up projects worth up to Rs 500 crore, they said.
AAI, before being granted the status, would have to approach the Department of Public Enterprises to seek waiver of loans from the government so that it became "self-reliant", they said. At present, AAI is given budgetary allocation for maintaining airports in the Northeast.
15/11/07 PTI/The Hindu

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Categories: Airports Nov 2007