5 days ago
A.P. govt. to guarantee for ₹1,000-crore loan for developing seven airports
The Andhra Pradesh government on Monday agreed to give guarantee to the Andhra Pradesh Airports Development Corporation Limited (APADCL) for obtaining ₹1,000 crore as loan to undertake the development of airports at Kuppam, Dagadarthi and Srikakulam —for land acquisition and external infrastructure creation— and Amaravati (for external infrastructure), and to extend Viability Gap Funding (VGF) support for airports and clear the urgent pending liabilities of the APADCL.
The G.O Ms. No.8 issued by Secretary (Infrastructure & Investment- Airports) N. Yuvaraj said that the government intended to develop eight greenfield airports at Srikakulam, Bhogapuram, Tuni-Annavaram, Tadepalligudem, Ongole, Kuppam, Dagadarthi and Nagarjuna Sagar, besides operationalising the international airport at Bhogapuram, for enhancing air connectivity and supporting regional economic growth.
The government also desired to establish a greenfield international airport at Amaravati.
In response a proposal made by the APADCL MD in this regard, the government accorded in-principle administrative sanction for ₹1,570.64 crore to acquire land for developing the above airports.
It also directed the MD to approach financial institutions for mobilising the funds. Accordingly, the MD submitted that the development of Kuppam, Dagadarthi, Srikakulam and Amaravati airports was being taken up under Phase - 1.
It was further mentioned that the Techno-Economic Feasibility Report (TeFR) study has been completed for Kuppam and Dagadarthi airports, while the same is in progress for the remaining two airports.
The MD sought 'shortfall government guarantee' for securing ₹1,000 crore loan from the HUDCO for developing the airports.
