New Delhi: Finding it a low-risk model with the states concerned committing to bear the maintenance cost for the first 10 years, the Airports Authority of India (AAI) has decided to take JV (joint venture) route for greenfield airports.
The Centre-controlled AAI has already entered into tie-up with state governments for nearly half a dozen airports to be developed through the JV route.
It will be the preferred mode for taking up new airport projects. In these airports, the AAI will have majority 51 per cent stake while the state government or other agencies hold the remaining 49 per cent, said a senior government official.
The official said that the AAI had earlier developed many airports such as Cooch Behar and Bikaner on their own but they continued to remain loss-making in the absence of airlines operating flights to these towns.
"The AAI has, therefore, decided to enter into joint venture with state governments to spread the investment risk. Subsequently, it has signed agreement with various state governments for jointly building airports," he said.
The official cited the example of Deoghar and Dhalbhumgarh in Jharkhand, Mandi in Himachal Pradesh and Dhulera in Gujarat which are being implemented through JV route with the AAI being the lead partner.
17/01/20 IANS/Outlook
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