The Hindu Business Line : Chennai airport upgrade project gets approval

New Delhi, July 29 The Chennai airport’s modernisation programme on Tuesday received clearance from the Public Investment Board (PIB) and work on the project is slated to commence by September.

The project, entailing an estimated cost of Rs 1,808 crore, would now be sent for approval of the Cabinet Committee on Economic Affairs, an official release said here.

Following upgradation, the airport’s international terminal building would be able to cater to seven million passengers a year, while the domestic one would enhance its capacity from four millions to seven millions by October 2010.

Of the total cost of Rs 1,808 crore for the upgradation project, Rs 1,077.16 crore would be required for the new domestic terminal building and for modernisation and extension of the international terminal. While 80 per cent of the project is slated to be funded through internal resources of the Airports Authority of India (AAI), the rest would be done through commercial borrowings. No user development fee or budgetary support is being envisaged for the project, the release said.

The Centre had in April 2007 decided to revamp Chennai airport to international standards by the AAI, which had developed the master plan and design of the terminal through global architectural design competition. An Inter-Ministerial Group had approved these plans, which focused on enhancing the runway capacity, apron capacity and the capacity of terminal buildings.

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