Business News | AAI, Other Operators to Spend Rs 90,000 Crore on Modernisation of Airports
Get latest articles and stories on Business at LatestLY. Airports Authority of India (AAI) and other operators have set a target to spend Rs 90,000 crore by 2024-25 on modernisation of airports in the country, Minister of State for Civil Aviation General (Retd) V K Singh said on Thursday.
New Delhi [India], July 21 (ANI): Airports Authority of India (AAI) and other operators have set a target to spend Rs 90,000 crore by 2024-25 on modernisation of airports in the country, Minister of State for Civil Aviation General (Retd) V K Singh said on Thursday.
In a written reply to a question in Lok Sabha, Singh said, "AAI and other Airport Operators have targeted a capital outlay of more than Rs 90,000 crore from 2019-20 to 2024-25, for expansion and modification of existing Airport Terminals, constructing new Terminal Buildings, expansion or strengthening of existing runways, aprons, upgrading Airport Navigation Services (ANS), control towers, technical blocks, etc across several airports in the country."
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AAI has leased out six of its airports namely, Chaudhary Charan Singh International Airport (Lucknow), Sardar Vallabhbhai Patel International Airport (Ahmedabad), Mangaluru International Airport, Jaipur International Airport, Lokpriya Gopinath Bordoloi International Airport (Guwahati) and Thiruvananthapuram International Airport through Public Private Partnership for operation, management and development on long term lease basis during the last three years.
The criteria for selection of Private Partners for these six airports was the Per Passenger Fee payable to AAI bid by them.
Expansion or modernisation of airports is a continuous process and is undertaken by the Airports Authority of India (AAI) or other airport operators from time to time depending on the availability of land, commercial viability, socio-economic considerations, traffic demand/ willingness of airlines to operate to/ from such airports, the minister said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)