Tvm airport expansion gets boost as funds are secured
T'puram: The expansion plans of city airport received a boost after Adani Airports raised $750 million in external commercial borrowings to enhance infrastructure at its six airports.
Of this, Rs 1,300 crore will be allocated for Project Anantha and Rs 700 crore for other upgrades, including measures to support the expansion of non-aeronautical businesses like retail, food and beverages, duty-free and other services.
The upgrades will begin soon, while the new project will start shortly after approvals are ready. An airport official said that funds were not an issue and the company would use its funds, but now the money was raised specifically for airport upgrades.
"The project can now be taken up smoothly as dedicated funds have come. The money will be used to upgrade the six airports run by the group – Thiruvananthapuram, Ahmedabad, Lucknow, Mangalore, Jaipur and Guwahati".
Project Anantha envisages an investment of Rs 1,300 crore over three years for the expansion of Terminal 2. The existing 45,000 sq m currently handling 3.2 million Passengers Per Annum (MPPA) will be enhanced to 1,65,000 sq m to handle almost 12 MPPA with a multi-level Curb Integrated Terminal.
The new terminal will also have a forecourt with an airport plaza, a hotel, and a commercial and administration block. There will be more space for car parking.
A new Air Traffic Control (ATC) tower, an international cargo complex and a remote check-in facility landside will create a completely new airport complex, said a statement from Adani Airport Holdings Ltd. "The clearances are the only thing that we are waiting for.
The plan and the funds are ready," he added.
A long-term expansion is also being considered, as the company submitted a broader masterplan worth Rs 3,000 crore to the Airports Economic Regulatory Authority. This includes the redevelopment of Terminals 1 and 2 and other work designed to handle 27 million passengers by 2034. The airport already completed some of the upgrades, like runway recarpeting, improving ground lighting and airside signage. The refurbishment of Terminal 1 is ongoing as part of upgrade work and will be completed in two months.
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