AAI to modernise Kolkata airport sans private funds

New Delhi: In a virtual volte face, the civil aviation ministry has now said the Airport Authority of India (AAI) will carry out the proposed modernisation of Kolkata airport out of its internal accruals and borrowings, and without private funds.
In a note sent to other ministries, including the finance ministry, the aviation ministry said the modernisation would commence with the construction of international departure building, which is estimated to cost Rs 225 crore.
The initial plan was to tie up private funds for modernising Kolkata and Chennai airports, using the public-private-partnership (PPP) funding model. It is estimated that the modernisation of the two airports will cost Rs 5,700 crore.
06/10/06 KG Narendranath/Financial Express

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