In light of rising air traffic in the country, credit rating body ICRA has reportedly said that India will have to triple its terminal building capacity at an approximate capex of Rs 2.4 lakh crore in the next decade. This amount is much steeper than the Rs 52,000 crore incurred in the last 10 years..
The Airports Authority of India (AAI) plans to put in place regulations for flexible use of land parcels as part of asset monetisation efforts, as it prepares for large-scale upgradation of airport infrastructure.
The Union Government plans to double the number of airports in the country over the next two to three years to serve the largely untapped domestic aviation industry, which has seen an increase in passengers.
The government is looking at a six-year plan to upgrade airport infrastructure, given that India´s metro airports are bursting at their seams, and are struggling to cope with the crush of passengers and choked runways, according to Minister of State for Civil Aviation Jayant Sinha.