Cabinet approves proposal for leasing out of three airports-Ahmedabad, Lucknow and Mangaluru
New Delhi, Jul 3 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for leasing out of three airports viz. Ahmedabad, Lucknow and Mangaluru of Airports Authority of India (AAI) through Public Private Partnership (PPP) to the highest bidder Adani Enterprises Ltd. who quoted the highest bid for these airports, for operation, management and development under PPP for a lease period of 50 years as per the terms and conditions of the bid documents.
These projects will bring efficiency in delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector, a government statement claimed.
This will also result in enhanced revenues to the AAI, which may lead to further investment by AAI at Tier II and Tier III cities.
The same may also bring economic development in these areas in terms of job creation and related infrastructure, the statement said.
Image: Wikimedia Commons
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
