The Union Cabinet on Wednesday approved leasing of three airports — Jaipur, Guwahati and Thiruvananthpuram — through public-private partnership (PPP) for a period of 50 years.
At a press conference after a Cabinet meeting on Wednesday, Union Environment Minister Prakash Javadekar said: “The Airports Authority of India (AAI) is not giving these airports permanently to the private operator. After running them for 50 years, the private operator would be handing over the airports back to the AAI,” said the Minister.
AAI to get ₹1,070 crore
The Minister said the AAI will receive ₹1,070 crore as an upfront amount from the private operator for leasing the airports at Jaipur, Guwahati, Thiruvananthapuram and this fund will be used to develop airports in smaller cities.
These three airports were among a total of six where Adani Enterprises Limited emerged as the highest bidder last year during the privatisation process initiated by the AAI. While Lucknow, Ahmedabad and Mangaluru were approved for handing over to the private player, the remaining three airports weren’t because of legal cases.
Adani Enterprises Ltd. had earlier this year sought an extension of six months for taking over Lucknow, Ahmedabad and Mangaluru airports citing uncertainty due to the pandemic.
The extra window was extended by the AAI and it remains to be seen whether the private entity will be able to take over within the mandatory six-month period after being awarded an airport.
(With inputs from PTI)
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