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DLF estimates Delhi airport project cost at Rs 5,000 crore

Our Bureau

New Delhi , July 29

DLF Universal Ltd, which has tied up with Malaysia Airports Holding Berhard to put in an expression of interest (EoI) for the proposed restructuring and modernisation of Delhi airport, has estimated the project cost at about Rs 4,000-5,000 crore over the next seven to 10 years.

"Our estimate is that the capital expenditure for the project should be about Rs 4,000-5,000 crore over a seven-to-10-year period. Generally, in such projects the debt equity ratio is 1:2 but it also depends a lot on how comfortable the banks are," the head of the consortium and Advisor, DLF, Mr A.S. Minocha, said.

Questioned on the opposition of the Left parties and employees of the Airports Authority of India (AAI) to the proposed restructuring move, Mr Minocha said that virtually every one working would get employment. "Directly and indirectly, about 2,00,000-3,00,000 people will get employment," he said.

On the issue as to whether the same consortium would also bid for the proposed restructuring and modernisation of Chennai airport, Mr Minocha said: "We cannot say anything about the Chennai airport project as yet. It depends a lot on when it is taken up. If it is taken up shortly after Delhi, we will suggest that the Malaysian side reconsider its decision to participate in it. However, if there is a time gap between the two projects, we may ask the Malaysian side to have another look at the Chennai project."

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