IRB Infrastructure Developers announced that its wholly owned subsidiary, IRB Sindhudurg Airport has now received Aerodrome license from the Director General of Civil Aviation.
Maharashtra Industrial Development Corporation (MIDC) had awarded to IRB, the project of development of Sindhudurg Airport in Maharashtra on BOT basis in 2009. The concession period is 95 years commencing from February 2013. The Company has developed the Airport project with capital outlay of Rs. 800 crore. Apart from earning revenue from the operations of Airport, the Company has the right to utilise/ commercially exploit the additional land parcels forming part of the Project. With receipt of the license from DGCA, the Company would commence commercial operations in due course.
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