"India's Civil Aviation Ministry to Modernize 15 Airports"

Monday, July 12, 2004

INDIA'S CIVIL AVIATION MINISTRY TO MODERNISE 15 AIRPORTS
Asia Pulse Pte Ltd.


MUMBAI, Asia Pulse - The civil aviation ministry has drawn up a Rs 50
billion (US$1.1 billion) modernisation plan for 15 airports, apart from
the ones at the four metros.

"We have worked out plans to redo the 15 airports and everything would
be in place by end 2006," Civil Aviation Minister Praful Patel said
Saturday.

In an informal chat with newspersons, Patel said the funds required to
modernise airports, including the ones at Jaipur, Udaipur, Lucknow and
Bhubaneswar, could also be raised through government bonds.

Patel said nearly 10 foreign entities have shown interest in the
modernisation plans of Delhi and Mumbai airports where the Foreign
Direct Investmnet limit has been raised from 40 to 49 per cent. Plans
for Chennai and Kolkata airports would be taken up later.

He said all these airports together contribute 80 per cent of the
revenue to the state-owned Airports Authority of India, which is the
third largest real estate holder in the country.

He reiterated that no foreign airline would be allowed to take a stake
in airport modernisation plan or airline.

Patel said necessary paper work is being expedited to sign a memorandum
of understanding for a greenfield airport project near Hyderabad next
month.

Patel said his aim was to "revolutionise" the industry and ensure that
the fleet acquisition plan of both state-owned Air-India and Indian
Airlines, refurbishing the aircraft and aviation policy would be ready
by December-end.


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