New Delhi: The developer and operator of the proposed Navi Mumbai airport will be charged an 'annual concession fee' even before the airport starts operations, the first instance of such a levy in airport projects in the country.
The civil aviation ministry has cleared the proposal for building the airport and the request for proposal is likely to be issued by January 15. As per the new deadline, the airport is likely to start operations from October 2019. This decision was taken in a meeting chaired by aviation minister Ashok Gajapathi Raju on Wednesday, officials said.
The fee will range from Rs 5 crore in the first year to Rs 1,250 crore a year from the 40th year of operations .
"With these charges, the government agencies will earn 17,000 crore during the 60-year period. If you look at it in terms of the net present value, the amount will be about 2,045 crore," said a senior civil aviation ministry official, who did not want to be identified.
02/01/16 Mihir Mishra/Economic Times
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The civil aviation ministry has cleared the proposal for building the airport and the request for proposal is likely to be issued by January 15. As per the new deadline, the airport is likely to start operations from October 2019. This decision was taken in a meeting chaired by aviation minister Ashok Gajapathi Raju on Wednesday, officials said.
The fee will range from Rs 5 crore in the first year to Rs 1,250 crore a year from the 40th year of operations .
"With these charges, the government agencies will earn 17,000 crore during the 60-year period. If you look at it in terms of the net present value, the amount will be about 2,045 crore," said a senior civil aviation ministry official, who did not want to be identified.
02/01/16 Mihir Mishra/Economic Times
