Next stage of airport privatisation to begin in April
08 Feb 2021
2 Min Read
CW Staff
The Airports Authority of India (AAI) will initiate the third stage of the airport privatisation process for 6-10 airports in April.
In her budget speech, Finance Minister Nirmala Sitharaman said that the government would privatise AAI airports from tier 1 and 3 cities during 2021-22.
The Ministry of Civil Aviation approved the leasing of six airports, namely Trichy, Indore, Amritsar, Varanasi, Bhubaneshwar, Varanasi, and Raipur for undertaking operations, management, and development through public-private partnerships (PPP).
Acting chairman Anuj Agarwal said AAI is raising Rs 2,100 crore from banks for its capital expenditure requirements in 2021-22.
AAI has already approved Adani Group's proposal to take over the Mumbai airport, said Agarwal.
Make in Steel 2021
24 February
4th Indian Cement Review Conference 2021
17-18 March
In September 2020, the Adani Group entered into a definitive pact to buy GVK Airport Developers Ltd's debt, against which a 50.5% stake in Mumbai International Airport Ltd (MIAL) had been pledged. The Gautam Adani-led conglomerate had said it would also buy the combined 23.5% stake held by Airport Co of South Africa and South Africa's Bidvest Group in MIAL.
Air India's divestment process is also on track, said the Ministry of Civil Aviation. The ministry said the transaction adviser has received the expression of interest (EoI) from bidders. The transaction adviser will now seek financial bids from the qualified bidders, said the ministry.
Also read: Adani鈥檚 MIAL takeover approved by AAI
The Airports Authority of India (AAI) will initiate the third stage of the airport privatisation process for 6-10 airports in April.
In her budget speech, Finance Minister Nirmala Sitharaman said that the government would privatise AAI airports from tier 1 and 3 cities during 2021-22.
The Ministry of Civil Aviation approved the leasing of six airports, namely Trichy, Indore, Amritsar, Varanasi, Bhubaneshwar, Varanasi, and Raipur for undertaking operations, management, and development through public-private partnerships (PPP).
Acting chairman Anuj Agarwal said AAI is raising Rs 2,100 crore from banks for its capital expenditure requirements in 2021-22.
AAI has already approved Adani Group's proposal to take over the Mumbai airport, said Agarwal.Make in Steel 202124 February Click for event info4th Indian Cement Review Conference 202117-18 March Click for event info
In September 2020, the Adani Group entered into a definitive pact to buy GVK Airport Developers Ltd's debt, against which a 50.5% stake in Mumbai International Airport Ltd (MIAL) had been pledged. The Gautam Adani-led conglomerate had said it would also buy the combined 23.5% stake held by Airport Co of South Africa and South Africa's Bidvest Group in MIAL.
Air India's divestment process is also on track, said the Ministry of Civil Aviation. The ministry said the transaction adviser has received the expression of interest (EoI) from bidders. The transaction adviser will now seek financial bids from the qualified bidders, said the ministry.
Also read: Adani鈥檚 MIAL takeover approved by AAI
Next Story
unWOOD transforms plastic waste into durable wood alternative
unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..
Next Story
India's first AI-integrated campus announced in Noida
Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..
Next Story
Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory
The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India鈥檚 most significant scientific institutions and highlights the nation鈥檚 long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..
