Government Thursday approved additional funds for the development of the integrated passenger terminal building at the Kolkata international airport expected to be inaugurated in January.
New Delhi: Government Thursday approved additional funds for the development of the integrated passenger terminal building at the Kolkata international airport expected to be inaugurated in January.
The Cabinet Committee on Economic Affairs, at a meeting chaired by Prime Minister Manmohan Singh, approved the revised cost estimate of Rs 2,325 crore for the modernisation and expansion of Netaji Subhash Chandra Bose International Airport, Kolkata (NSCBI) including construction of an integrated terminal building, an official release said.
In July 2008, the CCEA had approved Rs 1,942.51 crore for the project, cost of which had increased based on award of certain packages of work, by competitive bidding and review of scope of certain works.
The airport is likely to be inaugurated on January 23 on the birth anniversary of Netaji Subhash Chandra Bose.
The revised estimated cost of the work of Rs 2,325 crore will be met through internal resources and borrowings, the release said.
Term loan assistance of Rs 986 crore-- about 42 percent of project cost -- has been considered at 10 percent interest rate per annum with nine years repayment period including moratorium period of two years, the release said.
The ratio between internal resources and borrowings has been revised at 58:42 to fund the project.
Work on the Integrated Passenger Terminal Building was completed in August except Zone-I of the building, which forms the extreme end of the domestic portion of the integrated terminal.
The zone-I is expected to be completed by next month.
The planned annual handling capacity of four million passengers on international side of the integrated terminal is expected to get saturated in 2023-24, the release said.
Similarly, the domestic side having annual handling capacity of 16 million is expected to get saturated in 2015-16, it added.
The total international passenger traffic handled grew at the rate of three percent up to 2008-09, eight percent up to 2012-13 and projected to grow at the rate of 10 percent thereafter.
Similarly, domestic passenger traffic handled grew at the rate of 12 percent in 2009-10, 15 percent in 2010-11, 18 percent in 2011-12 and 2012-13 and projected to grow at the rate of 15 percent thereafter.