Work on the ambitious Chandigarh international airport project has gathered pace with the formation of joint venture company (JVC), Chandigarh International Airport Private Limited, last week.
The three JV partners include the Airports Authority of India (AAI), Greater Mohali Area Development Authority (GMADA) and Haryana Urban Development Authority (HUDA). The Centre holds 51% share while the Punjab and Haryana governments hold a stake of 24.5% each.
The JVC will have an initial authorised share capital of Rs 20 crore. A nine-member JVC board will also be set up where AAI can nominate five members while GMADA and Huda will have the right to nominate two members each.
AAI is expected to develop the international airport in two years over 300 acre of land at Jheourheri village in Mohali. AAI will bear all capital expenditure on development and upgradation of the civil air terminal complex which will have state-of-the-art facilities like aerobridges, escalators, cargo complexes etc. AAI will also develop an apron for parking civil aircrafts along with a taxi track connecting the runway to the apron. The Authority will coordinate with the Indian Air Force for a parallel taxi track to minimise runway occupancy time.
All the clearances, permissions and NOCs will be obtained by GMADA besides ensuring the establishment of a sub-station and waterline for free. According to official sources GMADA will also exempt the civil air terminal complex from property tax and other municipal taxes for 10 years starting the date of transfer of land to the JVC to minimise operational losses.
GMADA will also acquire land and develop a four-lane approach road to the civil terminal and the cost will be shared equally by GMADA and Huda. GMADA will also remove the identified obstacles to the safety of aircraft operation from the approach path of the extended runway and transitional areas?such high tension, low-tension power lanes, canal gas pipeline strictures, buildings and chimneys at its own cost.