Wednesday, Dec 22, 2004
Wednesday, Dec 22, 2004 |
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By Our Special Correspondent
HYDERABAD, DEC. 21. The Rs.1,418-crore Hyderabad International Airport limited (HIAL) at Shamshabad will commence commercial operations in the second quarter of 2008. The much-awaited airport, which promises to change the development scenario around Hyderabad, will achieve financial closure by second quarter of 2005. The compound wall around the 5,400- acre land acquired from the Government is 90 per cent complete already, according to Kiran K. Grandhi, Managing Director of HIAL. Addressing a press conference here on Tuesday, he said the airport would be of international standards, but smaller in size. It would provide employment to 1,000 workmen during construction, 1600 for airport operations, and indirect employment later could be five to ten times more. The objective would be to provide an efficient airport and value for money with good facilities, cargo hub, airline hub and transhipment hub, Mr. Grandhi said.
Capacity
It would have a capacity of five million passengers per annum in the first phase, 23 escalators, 25 lifts and 10 boarding bridges, besides 14 remote parking facilities. A low-cost terminal was also proposed for low-cost carriers, but in the second stage. By the time operations commence, they expect the multi-mode transport system connectivity, as also the outer ring road to be in place. The airport project was being implemented by GMR Group (63 per cent equity) and Malaysia Airports Holdings Berhad (11 per cent) along with the State Government and Airports Authority (13 per cent each). The project envisages achieving `break even' point in eight years from the commencement of commercial operations. Once operations commence, HIAL would also be paying 4 per cent `concession fee' on gross revenues to the Government of India--a small price for being allowed to take up an airport project under `private-public partnership (PPP)'.
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