Airports Authority of India to raise $300 mn to fund new infrastructure

With an intent to step up investments in capacity expansion of airport infrastructure in the country, the Airports Authority of India(AAI) has decided to raise $300 million through External Commercial Borrowing (ECB) route next year as part of the proposed five-year outlay with Rs 25,000 crore starting this year. The AAI board has already approved the move, according to its chairman Arvind Singh.

The airport authority aims to spend a minimum of Rs 5,000 crore each year on the infrastructure in line with the government’s announcement that 100 new airports will be developed in five years in addition to the 48 airports newly operationalised in the past four years.