Swipe through the latest business and wealth clues with our android app

Privatisation of airports: Govt likely offer 50-year lease, commercial development right

The government is pressing ahead with its privatisation agenda of six major airports - Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru — by February 28, the TOI reported. According to the daily, government may award a 50-year lease for these airports. A committee headed by NITI Aayog CEO Amitabh Kant has recommended that the turnover and net worth of the bidders be the key selection criteria. This time the committee has decided to allow 100% private participation for operation, development and management of the airports. The government has even decided to allow entire non-air side development for commercial purposes, such as building hotels or malls, the ToI report said. Further, the government is also willing to offer viability gap funding (VGF) to make the process more attractive, the daily said.

Read More at Times Now News date : 28 Nov 2018, Wednesday

©2019 TheNewsClues