Cabinet approves modernization of Chennai and Kolkata airports
THE government approved modernisation of the Chennai and Kolkata airports. Expansion of the two airports is estimated to cost over Rs 3,750 crore and these projects are to be completed within three years. The entire modernisation work would be taken up by the Airports Authority of India (AAI) beginning September this year. AAI will invest 80% of the required capital through internal resources, and the remaining 20% would be borrowed.While the Kolkata airport would be developed at an estimated cost of Rs 1,942.51 crore, modernisation of the Chennai airport would cost Rs 1,808 crore. The Kolkata project would be completed within 30 months of awarding the contract, while the Chennai project would have a lower implementation period of 26 months.“The AAI can create these two airports into models and compete with the private sector to develop world-class airports. They can even compete in the international arena,” civil aviation minister Praful Patel said after a meeting of the Cabinet committee on economic affairs.