Airports to raise perpetual loans

Airports to raise perpetual loans

Tamal Bandyopadhyay / Mumbai February 27, 2006

First time in the country for an infrastructure project.

Modelled on the novel financing pattern of the $15-billion, 95-mile Euro Tunnel that links Great Britain and continental Europe, the modernisation programmes of the Mumbai and Delhi airports will be part-financed by loans in perpetuity.

This will be the first instance of an infrastructure project in India being backed by perpetual loans.

Under an arrangement, the two consortia