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AAI to become a company by 2010: Praful Patel

AAI would be turned into a company by amending laws to enable it to raise funds from market.

New Delhi: Airports Authority of India,
would be turned into a company by amending laws to enable the
body raise funds from market for carrying out modernisation of
a large number of major airports across the country, Civil
Aviation Minister Praful Patel said on Tuesday.

"We are looking at corporatising the AAI, turning it into
a company from an authority which it is now... our objective
is to list AAI (in the stock market)," he told reporters here.

This, he said, would be carried out by amending the AAI
Act that governs the airports` body to "help them in their
financial future".

"Funding will become easier if it becomes a company,"
Patel said. The amendment would be placed before Parliament
"latest by March 2010".

Replying to a spate of questions he said, private
infrastructure firms, including those involved in airport
modernisation, were listed companies and had good standing in
the market.

The AAI is currently modernising major airports in
Kolkata and Chennai and 35 non-metro airports. It has huge
properties including land and other assets across the country.

Bureau Report


From Zee News

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