Phase-II of the modernisation programme will see the development of a new terminal at Chennai airport. The plan, according to G Chandramouli, Airport Director, Airports Authority of India (Chennai), will consist of a new terminal building with a parking bay for aircraft and a multi-level car parking facility – at a cost of Rs 2,500 crore.
The aim is to construct the building and allied infrastructure within a period of 42 – 45 months, he said. Passenger traffic has seen a 20 percent growth in the last three months. At this rate, the existing infrastructure would not be sufficient, he added.
Funding for the project has yet to be finalised, however. A market study to decide whether to go for project loans or for an issue through domestic bonds will have to first be conducted. Earlier in September, the union government had sanctioned Rs 9,430 crore for modernisation of airports. For the current fiscal, Rs 1,500 crore has been sanctioned.
Larson and Toubro have started excavation and site preparation works.
Image Credit – The Hindu