Mumbai Airport plans Rs 2,280 cr investment this fiscal

Mumbai: A Mumbai International Airport (MIAL) spokesperson said the company had targeted a Rs 2,280 crore investment this fiscal. In comparison, MIAL had targeted a Rs 2,300-2,500 crore capital expenditure for the Mumbai airport in the last financial year.
The country's busiest airport is being modernised and developed by MIAL, a joint venture between Airports Authority of India (AAI) and a GVK-led consortium, with 26 per cent and 74 per cent equity, respectively.
While Rs 570 crore and 412 crore of the projected Rs 2,280 crore investment are expected to be incurred during the first two quarters, the remaining two quarters would entail an investment of Rs 663 crore and 635 crore, respectively, according to a Planning Commission report on the civil aviation sector.
MIAL envisages a total investment of Rs 9,800 crore on the airport project, which is likely to be completed by 2012.
The modernisation and development work includes construction of a new integrated passenger terminal at Sahar, which is likely to be completed in three phases by 2012.
17/05/10 Press Trust of India/Business Standard

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Categories: Airports May 2010