Business Daily from THE HINDU group of publications
Saturday, Aug 19, 2006

Cross Currency

Group Sites

Home Page - Infrastructure
Logistics - Modernisation
States - Tamil Nadu
TN seeks jt venture route for Chennai airport revamp

Our Bureau

Call to adopt Delhi, Mumbai model

Joint venture route
Two joint venture companies, DIAL and MAIL, run the Delhi, Mumbai airports, respectively.
AAI has a 26 pc stake in the two companies.
ICAO nod for the construction of new greenfield airport in Mumbai.

New Delhi , Aug. 18

The Tamil Nadu Government has written to the Centre asking that the model followed for development of airports in Delhi and Mumbai be adopted for the proposed modernisation of the Chennai airport.

"The letter has requested that the proposed modernisation be completed quickly. It has also asked that the route followed for modernising the airports in Delhi and Mumbai be adopted for Chennai also," a senior government official said.

The Centre has followed the joint venture route for development of Delhi and Mumbai airports. Two new joint venture companies, Delhi International Airport Ltd (DIAL) and Mumbai Airport International Ltd (MAIL), have been set up to run the two metro airports.

The joint venture partners have a 74 per cent stake in these two companies with the foreign direct investment level being capped at 49 per cent. Airports Authority of India has a 26 per cent stake in the two companies.

On Friday, the issue of modernisation of Chennai and Kolkata airports was discussed at a meeting that the Prime Minister, Dr Manmohan Singh, had with the Minister for Civil Aviation, Mr Praful Patel. "It was decided that both the projects should be taken up and completed at the earliest. We hope to be able to finalise the route that should be followed for modernisation of the two airports within a month," senior Government officials said.

Commenting on the proposed modernisation of Kolkata airport, official sources indicated that there was a divergence of views. "While the State's Chief Secretary has written asking that AAI be asked to take up the proposed modernisation, the Chief Minister has lauded the manner in which the Delhi and Mumbai airport restructuring has been carried out," sources said. The proposed modernisation of both the airports is estimated to cost around Rs 7,000 crore.

Meanwhile, the International Civil Aviation Organisation (ICAO) has given its approval for the construction of a new greenfield airport in Mumbai. "The ICAO technical feasibility report has been received and this has given the go ahead for a new airport to come up in Panvel," a senior official said.

Related Stories:
Easier norms for metro airports revamp likely
GMR submits Rs 500-cr bank guarantee for Delhi airport modernisation
Bids opened for airport modernisation — GMR combine gets Delhi; Mumbai for GVK

More Stories on : Infrastructure | Modernisation | Tamil Nadu | Airlines

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
Wheat prices zoom to record Rs 1,000 a quintal

Depression retains intensity
ICICI Bank offers $340-m bond issue at 7.25 pc
Inflation rises to 4.82 pc on higher fuel prices
TN seeks jt venture route for Chennai airport revamp
Global M&A activity holds lessons for Indian space
Govt unhappy with IOC's non-fuel retailing foray
Petro product prices review on September 1
Govt rejects States' demand for greater service tax share
Surat textile biz may take a while to get back to shape
Writing on the go!
National Plywood: Revival hopes
Pumps and valves industry stocks in limelight
SBI hikes term deposit rates by 25-50 basis points
Siemens centre for managed services at Kolkata facility
CDMA operators stay away from TRAI meet
Exports up 41 pc in July

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line