Airports Authority of India plans to raise Rs 5000cr via bonds
The Airports Authority of India (AAI), which runs 125 airports across the country, will approach the government to allow it to raise Rs 5,000 crore through infrastructure bonds, its top official said on Monday.
"We will again approach the government to allow us to issue infrastructure bonds for the next phase of development of 15 airports during the 12th Plan period,"AAI chairman V P Agrawal said. AAI's plea to raise a similar amount through tax-free infrastructure bonds in 2009 to develop 35 nonmetro airports was rejected by the government then.
The modernisation and upgradation work on many of these airports has already been completed.
Agarwal said these bonds could be tax-free but the government would have to take a decision on the entire issue, on the sidelines of a seminar organised by Indo-American Chamber of Commerce. FM Pranab Mukherjee had announced in the 2011-12 general budget that government for more details....
"We will again approach the government to allow us to issue infrastructure bonds for the next phase of development of 15 airports during the 12th Plan period,"AAI chairman V P Agrawal said. AAI's plea to raise a similar amount through tax-free infrastructure bonds in 2009 to develop 35 nonmetro airports was rejected by the government then.
The modernisation and upgradation work on many of these airports has already been completed.
Agarwal said these bonds could be tax-free but the government would have to take a decision on the entire issue, on the sidelines of a seminar organised by Indo-American Chamber of Commerce. FM Pranab Mukherjee had announced in the 2011-12 general budget that government for more details....
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