Airports to attract a lot of investments
Union Minister of Civil Aviation Ajit Singh announced in Hyderabad that airports in India are expected to attract investments worth $12.1 billion during the 12th Plan period, including $9.3 billion from the private sector. India is expected to reach third position with a fleet size of 1,000 by 2020 and holds 9th position in civil aviation market in the world, in terms of size. Singh further added that the funds would be used for expansion and modernisation of existing airports and development of low cost airports.
He estimates that by 2020 as many 236 million domestic passengers and 85 million international passengers will be handled by Indian airports; and commercial fleet size is expected to be 1,000, from today’s 400. He points out that Indian air traffic density is low as compared to other countries.
Source: Financial Chronicle
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