The Chennai airport modernisation project undertaken by the Airports Authority of India (AAI) got an approval from the Public Investment Board (PIB) today. The project now awaits the approval of the Cabinet Committee of Economic Affairs. Work on the airport modernisation is expected to begin by September this year.
The Rs 1,808-crore development project, which was mooted by the government in April 2007, would enhance the annual passenger handling capacity of the airport by more than 150 per cent from 9 million currently to 23 million. The project plans include enhancing the international terminal by October 2010, apart from building a new domestic terminal.
Eighty per cent of the project will be funded through internal resources of the AAI, while the rest will be through commercial borrowings
