The Hindu Business Line : `Delhi, Mumbai airports need Rs 15,120 crore for revamp'

THE global technical advisor for restructuring of airports has made a preliminary estimate that a capital investment of Rs 8,720 crore would be required for Delhi, while for Mumbai, it would be Rs 6,400 crore.

An official statement issued today points out that these estimates do not include the cost of likely relocation of some of the assets and removal of encroachments. The first phase for modernisation and expansion of the two airports is likely to be completed by 2010.

The Australian firm, Airplan, has been appointed as the global technical advisors for the project. The Government had in September 2003 given its approval for restructuring and modernisation of the two airports through the formation of two separate joint ventures. While Airports Authority of India and other PSUs will hold 26 per cent equity, 74 per cent will be held by the private sector.

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