HOME WORLD INDIA BHOPAL BUSINESS ENTERTAINMENT SCIENCE & TECHNOLOGY SPORTS HEALTH
WTN SPECIAL GOSSIP CORNER RECIPES DRINKS FUN FACTS WTN HINDI
EDUCATION LIFESTYLE TRAVEL ART & LITERATURE BIG MEMSAAB OPINION & INTERVIEW BrahMos
ABOUT US PRIVACY POLICY SITEMAP CONTACT US
BREAKING NEWS
‘Free to criticise me, govt’: CM Adhikari assures media; urges caution on national security
India, Denmark deepen cooperation on MSME development, innovation and IP
Jackie Shroff’s daughter Krishna Shroff reveals how she builds mental and physical strength
Maruti Suzuki India shares fall 4 pc as August sales decline 10 pc sequentially
Telangana BJP chief arrested in Hyderabad, stopped from visiting Nalgonda
EAM Jaishankar meets FMs of several SCO nations on sidelines of Bishkek summit
Home / Business

Cabinet approves leasing out 3 airports under AAI

03 Jul 2019
Business
Cabinet approves leasing out 3 airports under AAI
New Delhi, July 3 (IANS) The Union Cabinet on Wednesday approved the proposal for leasing out the Ahmedabad, Lucknow and Mangaluru airports of the Airports Authority of India (AAI) through the public-private partnership (PPP) mode.
 
The airports would be leased out to the highest bidder and this measure would increase their annual profits 10-fold, Union Minister Prakash Javdekar told the media in a briefing after the cabinet meeting.
 
The Cabinet has approved leasing out these airports to the highest bidder Adani Enterprises Ltd who quoted the highest bid for operation, management and development under PPP for a lease period of 50 years as per the terms and conditions of the bid documents, the Minister said.
 
"These projects will bring efficiency in delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector. This will also result in enhanced revenues to the AAI, which may lead to further investment by AAI at Tier II and Tier III cities and economic development in these areas in terms of job creation and related infrastructure," he added.
 

--IANS rak-rv/bc