AAI to acquire majority stake in Dholera airport

AAI is set to acquire a 51 per cent stake in the Dholera international airport in Gujarat. Once the transaction is completed, the Gujarat government will hold a 33 per cent stake while the central government will have a 16 per cent share in the airport through the Delhi-Mumbai Industrial Corridor Development Corporation. With the funds so generated, construction work on the airport is likely to be accelerated. The airport is being developed near the Dholera special investment region at an investment of Rs 21.25 billion. It will be spread across 1,426 hectares of land and work will be taken up in a phased manner. It will have two runways and a terminal building among other facilities. The work under Phase I will involve an investment of Rs 20 billion and will be completed by the first quarter of 2020. Once completed, the airport will have the capacity to handle 5.5 million passengers per annum.

GET ACCESS TO OUR ARTICLES

Enter your email address