The authorities plans to promote its residual stake in already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports as a part of the bold Rs 2.5 lakh crore asset monetisation pipeline recognized to elevate extra sources, sources mentioned. Sale of Airport Authority of India’s (AAI) remaining stake in the 4 airports as additionally 13 extra airports have been recognized for privatisation in 2021-22 fiscal, two individuals conscious of deliberations at Empowered Committee of Secretaries final month mentioned.
The Ministry of Civil Aviation will receive requisite approvals for divestment of fairness stake of AAI in the respective joint ventures working Delhi, Mumbai, Bengaluru and Hyderabad airports, they mentioned including the problem is probably going to go to the Cabinet for approval in the following few days. For the 13 AAI airports recognized for privatisation, the opportunity of clubbing of worthwhile and non-profitable airports will likely be explored to make extra enticing packages, sources mentioned.
In the primary spherical of airports’ privatisation underneath the Narendra Modi authorities, the Adani Group bagged contracts for six airports Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati final 12 months. The AAI, which works underneath the Ministry of Civil Aviation, owns and manages greater than 100 airports throughout the nation.
While in Mumbai International Airport, Adani Group holds 74 per cent stake, the remaining 26 per cent stake is with AAI. In Delhi International Airport, GMR Group holds 54 per cent, Airports Authority of India holds 26 per cent, whereas Fraport AG and Eraman Malaysia holds 10 per cent stake every.
AAI together with the Government of Andhra Pradesh holds 26 per cent in Hyderabad International Airport Ltd. It holds an identical stake in Bangalore International Airport together with the Karnataka Government. Finance Minister Nirmala Sitharaman in the 2021-22 Budget speech had mentioned that monetising working public infrastructure belongings is a vital financing choice for brand spanking new infrastructure building.
A National Monetisation Pipeline of potential brownfield infrastructure belongings will likely be launched and an asset monetisation dashboard may even be created for monitoring the progress and to present visibility to buyers, she had mentioned. Prime Minister Narendra Modi had final month mentioned the federal government is focusing on monetising 100 belongings equivalent to oil and fuel pipelines, which might draw an enormous Rs 2.5 lakh crore of funding.
The authorities is focusing on Rs 1.75 lakh crore from divestment proceeds in the following fiscal 12 months starting April 1.