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IIFCL to invest Rs 6,630-cr for development of airports

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Editorial Team
Author: Editorial Team
1 min.read

The India Infrastructure Finance Company Limited (IIFCL) has extended a credit of Rs 6,630 crore with an aim to develop the growth in the aviation sector. Reportedly the IIFCL has given in-principle approval of Rs 638 crore for the development of a greenfield airport in Andhra Pradesh.

“With an aim to finance development of world class airport infrastructure in India, IIFCL has, till date, sanctioned Rs 6,630 crore to six major airports in India in Delhi, Mumbai, Hyderabad, Navi Mumbai, Noida (Jewar) and the newly developed Manohar International Airport in Goa,” , Managing Director P R Jaishankar was quoted as saying.

According to reports, investments worth over Rs 85,000 crore are in the pipeline for airport infrastructure in India during FY23 FY27. This includes ongoing capacity expansion at major private airports, investments by the Airports Authority of India (AAI) of Rs 25,000 crore for development of AAI-operated airports, around Rs 30,000 -35000 crore is 21 new greenfield airports across the country and about Rs 17,000 crore by the Adani Group towards development of six airports acquired from AAI.

India plans to open 100 additional airports by 2024 and aims to increase the number of operational airports to 190-200 by FY’40.

Further, as per National Monetization Pipeline (NMP), 25 airports including Bhubaneshwar, Varanasi, Trichy, Indore, Raipur, Calicut, Coimbatore, Nagpur, Patna, Madurai, Surat, Ranchi, Jodhpur, Vijayawada, Vadodara, Bhopal, Tirupati, Udaipur, Dehradun and Rajahmundry have been earmarked for leasing over the years 2022 to 2025 under Public Private Partnership (PPP).

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