"The amount realised will be used to finance development of small airports. It would strengthen the financial position of AAI to build these airports," AAI Chairman V P Aggarwal said in New Delhi.
Of the 51 low-cost airports, AAI was planning to start work on 15 airports this calender year itself, he said, adding that an inter-ministerial group, set up for this purpose, has discussed the issue of appointing a consultant at their first meeting on Wednesday.
The government had last week decided to set up the 51 airports to enhance air connectivity to small cities in Andhra Pradesh, Jharkhand, Bihar, Punjab, Uttar Pradesh, Assam, Arunachal Pradesh, Madhya Pradesh, Rajasthan and Maharashtra.
Those investing in these bonds, which normally have a long-term maturity plan like a decade, would get tax benefits.
In this year's budget speech, Finance Minister P Chidambaram had said that state-run bodies like AAI could issue such bonds up to Rs 50,000 crore (Rs 500 billion). Apart from the low-cost airports, construction rights for eight greenfield airports are likely to be awarded this year under public-private partnership mode for Navi Mumbai, Juhu, Mopa (Goa), Kannur, Rajguru Nagar Chakan at Pune, Sriperumbudur, Bellary and Raigarh.
Aggarwal said the airports in difficult and remote places like in the northeast, would be constructed by AAI as private parties would not want
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