'Funds no bar for Kolkata airport revamp'

Funds are not a problem for the the modernisation of the Kolkata airport by the Airports Authority of India, Civil Aviation Secretary Ajay Prasad said on Tuesday.  

"AAI has sufficent funds to finance the modernisation of NSC Bose International Airport," he said.

According to a rough estimate, the modernisation would cost Rs 3,000 crore (Rs 30 billion), Prasad told reporters on the sidelines of a CII seminar.

The government has carried out a credit rating for AAI, which will faciliate the raising of resources from the open market. By October, it will be decided whether Kolkata airport will be modernised by AAI or private firms.

AAI has been asked to draw up a modernisation plan for the domestic and international terminals of the airport in Kolkata.

Speaking about the need for a second airport in the city, Prasad said, "We are not opposed to the idea, but before that we want to utilise the Kolkata airport to its optimum capacity."

Industry Minister Nirupam Sen said on Tuesday a feasibility study has been been carried out and it would soon be decided whether the second airport would be viable.

AAI will spend Rs 4,000 crore (Rs 40 billion) to modernise 35 non-metro airports across the country.

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