New Delhi: India plans to construct 100 new airports with an investment of close to $60 billion (about Rs 4.2 lakh crore) in the next 10-15 years, Civil Aviation Minister Suresh Prabhu said Tuesday.
Centre to build 100 airports with USD 60 bn investment
Amid the country's domestic aviation sector recording double-digit growth for more than three years on the back of rising demand, the government is working on ways to bolster the infrastructure for the sector. "We have plans for 100 new airports to be built in India in the next 10 to 15 years with investments of almost close to $60 billion," the minister said at a conference here.
He also said that the government is working on a cargo policy. The government plans to have a pre-determined tariff structure linked to inflation for greenfield airports.
Currently, there is cost plus tariff structure wherein the rates for an airport are determined every five years, which is known as the concession period.
Against the backdrop of the government proposing a new tariff structure for greenfield airports, the International Air Transport Association (IATA) has raised concerns about it.