Bangalore: The upcoming greenfield airports in Gulbarga and Shimoga may not be completed by the end of this year, even though in his budget speech last week Karnataka chief minister Siddaramaiah said they would be.
Both airport projects, being built on a public-private partnership (PPP) model, currently stand grounded. All construction activity has ceased, with the airports' two main joint venture partners fighting amongst themselves.
Regional Airport-Holdings International Ltd (Rahi), a 60:40 JV between Rahi Aviation Holdings Pvt Ltd (RAH) and IL&FS Transportation Networks Ltd (ITNL), is building the airports.
The state government has no stake in the projects, but it has leased land to Rahi on a build, own and operate basis for a period of 30 years with a clause of lease renewal for another 30 years, and collects an annual rental income on the leased land.
18/07/13 Anshul Dhamija/Times of India
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Both airport projects, being built on a public-private partnership (PPP) model, currently stand grounded. All construction activity has ceased, with the airports' two main joint venture partners fighting amongst themselves.
Regional Airport-Holdings International Ltd (Rahi), a 60:40 JV between Rahi Aviation Holdings Pvt Ltd (RAH) and IL&FS Transportation Networks Ltd (ITNL), is building the airports.
The state government has no stake in the projects, but it has leased land to Rahi on a build, own and operate basis for a period of 30 years with a clause of lease renewal for another 30 years, and collects an annual rental income on the leased land.
18/07/13 Anshul Dhamija/Times of India
