Airports Authority wants to raise Rs.5,000 crore
September 19th, 2011 - 6:55 pm ICT by IANSNew Delhi, Sep 19 (IANS) State-run Airports Authority of India (AAI) Monday said it will again seek the government’s clearance for its proposal to issue Rs.5,000 crore worth of infrastructure bonds to further develop 15 airports in the country.
“Now we will again approach the government for allowing us to issue infrastructure bonds to create and maintain high-class airport infrastructure in the country,” AAI chairman V.P. Agrawal told IANS.
According to Agrawal, the funds would be utilised towards development of 15 airports in the country to meet the ever growing numbers of air passengers in the 12th Five Year Plan period.
“The funds would be used in the plan period for 15 airports in the non-metro sectors which have high potential for traffic growth,” Agrawal said.
Earlier, the government had rejected a similar plea from the company for raising funds by issuing bonds.
The company said according to the civil aviation ministry estimates the total investment required in the aviation sector is about Rs.65,000 crore and that the bond issuance route is considered to the most optimal.
The AAI in recent past has been on the modernisation drive on around 35 non-metro airports and two major airports in Kolkata and Chennai.
The company manages a string of 125 airports in the country.
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