The airport infrastructure sector is set to get a boost with an investment outlay of around Rs 1 lakh crore in the next five years, the civil aviation ministry said on Wednesday.
The airport infrastructure sector is set to get a boost with an investment outlay of around Rs 1 lakh crore in the next five years, the civil aviation ministry said on Wednesday. It said there would be investments to the tune of Rs 95,178 crore for creating new terminals, development of greenfield airports and private investment in joint venture airports. The Airport Authority of India (AAI) has an annual terminal capacity of 155 million passengers, which it intends to raise to 300 million by 2026-27. It also aims to add 290 aircraft parking bays to the existing 714 spots.
“We are building airports according to the long-term growth prospects as we want to avoid congestion costs. The expansion of existing airports, developing new ones and private investment in joint venture airports will be around Rs 1 lakh crore in the next five years,” minister of state for civil aviation Jayant Sinha said.
The AAI will be spending Rs 20,178 cr for development of infrastructure in its 22 airports in the next four-five years. Chennai, Guwahati, Lucknow, Jaipur, Srinagar, Pune, Dehradun, Leh, Goa and others are part of this capex plan. New airports will be added in coming years to major cities facing capacity crunch. The government has an outlay of over Rs 50,000 crore for developing greenfield airports.
“We have a healthy balance sheet. We intend to go 60% debt and 40% equity component in raising money,” AAI chairman Guruprasad Mohapatra said. The government has granted approval for second airports in Navi Mumbai, Noida, Mopa (Goa), Purandar (Pune), Bhogapuram (Visakhapatnam), Dholera (Ahmedabad) and Hirasar (Rajkot).
Airport operators of Delhi, Bengaluru and Hyderabad have announced plans for upgrade and expansion. These operators are likely to spend around Rs 25,000 cr in the next five years. The Cabinet on Wednesday granted its approval for expansion of integrated terminals at Chennai, Guwahati and Lucknow airports at a cost of Rs 5,082 crore.