India to spend big on improving Airports
Indian government has announced massive plans to improve the conditions of the airports around the country. The tourism industry is booming and the entry of cheaper airline operators mean that the air traffic would increase rapidly leading to more demands from the end consumers and better facilities by the airline operators.
The planned investment on these upgradation lies in the region of around USD 10 Billion and the announcement was made by the Civil Aviation Minister Praful Patel. This would include upgrading the current existing ones and building some new ones as well. Around 41 cities are being targeted under this plan, which includes six major destinations in India.
While airports in the metro cities of New Delhi, Mumbai, Chennai and Kolkata would be upgraded to receive the largest and latest aircraft, two new airports would be build in Bangalore and Hyderabad. These two cities are regarded as the top IT destinations in India and the companies here have been demanding better airports since a long time.
The minister said these projects would be completed in five years. He also said that Indian carriers – Air India and Indian Airlines – would also go public by issuing IPOs early next year.