Budget moots private airports in four cities

Friday, 28 February 2003, 20:30 IST
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NEW DELHI: Private airports will be set up in Bangalore and Hyderabad and India's busiest airports in Mumbai and Delhi will soon get a major facelift, according to the federal budget proposals unveiled Friday. In his budget speech, Finance Minister Jaswant Singh said two separate companies would be formed with equal equity participation from the Airports Authority of India (AAI) to set up four private airports in New Delhi, Mumbai, Bangalore and Hyderabad. The government has also allocated a part of Rs 110 billion for upgrading the airports in Mumbai and New Delhi and bring them at par with international standards. The proposed new companies would take joint venture partners and the management of the airports would be leased out, Singh announced. The day-to-day affairs of the two joint ventures would be looked after by their managing directors and private sector partners would take over the running of the airports.
Source: IANS
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