Cabinet approves lease of three airports

Briefing reporters after the cabinet meeting, Information and Broadcasting Minister Prakash Javadekar said that the lease had been given to the highest bidder.

An official release said later that the lease had been given to Adani Enterprises Ltd for operation, management and development under PPP for 50 years as per the terms and conditions of the bid documents. The company had quoted the highest bid for these airports, it said.

The release said that the projects will bring efficiency in delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector.

"This will also result in enhanced revenues to the AAI, which may lead to further investment by AAI at Tier II and Tier III cities and economic development in these areas in terms of job creation and related infrastructure," the release said .