The Telegraph
Thursday , March 13 , 2014
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Funds to flow into airports

Singh: Hopeful

Hyderabad, March 12: Civil aviation minister Ajit Singh today said airports would witness a massive $12.1-billion investment during the 12th plan period.

“The government has envisaged an investment of $12.1 billion in the airport sector during the 12th plan period (2012-17), of which $9.3 billion is expected to come from the private sector for construction of new airports, expansion and modernisation of existing ones and development of low-cost airports,” Singh said during his inaugural address at India Aviation-2014.

Singh said work on more than 50 low-cost airports in smaller cities had been initiated by the Airports Authority of India. He said the country had gained from the alliance with Air Asia and Singapore Airlines apart from the $350-million initiative by Etihad in Jet Airways after the government allowed 49 per cent FDI by foreign airlines in Indian carriers.

“These are all results of our far reaching reforms in the aviation policy regarding bilateral air services,” he said.

Civil aviation secretary Ashok Lavasa said decisions regarding safety and other reforms such as a civil aviation authority would be taken up only after the new government took charge.

The aviation ministry is also working on enhancing regional connectivity through promotion and modernisation of low-cost airports in smaller towns.