Thursday, June 13, 2019

AAI brought on board for civil air terminal

Ludhiana: The Government of Punjab and the Airport Authority of India (AAI) signed an agreement for a joint venture for setting up the new Civil International Air Terminal at IAF Station Halwara, Ludhiana. Earlier, the Punjab government had signed an MoU with the Ministry of Civil Aviation for the same.
An official spokesperson of the state government on Wednesday said the agreement was signed by Tejveer Singh, principal secretary Civil Aviation for the Punjab government; and AAI executive direcor GD Gupta, in the presence of the Punjab chief secretary Karan Avtar Singh, and AAI chairperson Guruprasad Mahapatra.

The spokesperson also informed that the project would be implemented through a joint venture company (JVC) which has been formed with the majority stake of 51% of AAI and 49% stake of the state government thorough the Greater Ludhiana Development Authority (Glada).

As per the agreement, AAI shall bear all the capital expenditure to develop the new airport, while the Punjab government will provide 135.54 acres of land free of cost and free of all encumbrances for the project, while the JVC will bear all expenditure on operation, management, and maintenance (including repairs).
13/06/19 Times of India

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