GOVT TO START GREENFIELD AIRPORT PROJECTS IN GOA, HYDERABAD

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Shortly after giving the nod for the greenfield airport project in Bangalore, the government said similar projects would be started in Goa and Hyderabad.

Civil Aviation Minister Rajiv Pratap Rudy said that the concession agreement for the Rs 1,285 crore international airport project at Devanahalli near Bangalore between the central government and the public, private promoters was expected to be signed within a month.

Shansabad in Hyderabad and Mopa in Goa would be the two projects. For Shansabad, process for signing of concession agreement would be initiated soon, he said.

The airport, involving foreign partners, was targeted to open within 33 months shortly after the financial closure of the project, he said. If the project was delayed, the Government would have to be paid the damages.

The agreement would be signed between the government and Bangalore International Airport (BIAL) for the project which would be implemented on build, operate and transfer basis. The Karnataka government through Karnataka State Investment and Industries Development Corporation and Airports Authority of India together would hold 26 per cent equity in BIAL.

A consortium led by Siemens of Germany would hold 40 per cent while Unique Zurich and L&T would hold 17 per cent each, subject to lock-in-period for equity holding, Rudy said.

The concession agreement states that concession fee at four per cent of gross revenue would be paid and that performance standards of 3.5 in the IATA Global Airport Monitor scale of one to five would be maintained

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