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AAI raises funds for upgrade

AAI raises funds for upgrade

Airports Authority of India (AAI) plans to raise Rs 1,700 crore through bonds and bank loans in the next two years to invest in upgrading 35 non-metro airports. AAI will borrow Rs 900 crore in 2011 and Rs 800 crore in 2012. According to the Chairman VP Agarwal, AAI may also look at debentures and also possibly turn to the World Bank for its funding needs.
Development works at most of the facilities are expected to be completed by year-end. These apart, a total capacity of about 30 million will be added to Kolkata and Chennai airports by the year-end. Last year, out of its total expenditure of Rs 2,700 crore, AAI spent Rs 1,200 crore on facelifting of the non-metro airports.


Contact: AAI, Tel: +91 11 2463 2950, Web: www.aai.aero

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