Wednesday, March 16, 2022

India doubles up investment in airports

Delhi: India’s Ministry of Civil Aviation outlined this week a plan to finance 21 new greenfield airports while improving existing airports over the next five years.

A fund of Rs250,000,000 (USD3,268,910) will support projects linked to existing airports, according to a Press Information Bureau media statement released on Monday.

Based on the substantial growth in airline travel across the country, the Airports Authority of India’s forecast indicates all-India passenger throughput growth continuing over the next three years, requiring a considerable investment in greenfield airport projects to keep pace.

But the authority cautioned the projections are subject to reassessment given the unpredictable nature of the Covid pandemic and the sharp increase in aviation fuel prices.

Airports Authority of India will develop existing airports over the next five years, build new terminals, expand and modify existing terminals, expand and strengthen existing runways, aprons, Airport Navigation Services (ANS) infrastructure and control towers.

Public-Private Partnership airports at Delhi, Hyderabad and Bengaluru are undertaking major expansion projects costing around Rs300,000,000 (USD3,922,692) by 2025. Additionally, Rs360,000,000 (USD4,707,450) will be invested in new greenfield airports under the PPP model.

16/03/22 TTRW

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