| The Rs12 billion Hyderabad International Airport Project (HIAP) has received a big boost with the signing of two important project agreements - the state support agreement and the shareholders agreement.
An Indo-Malaysian consortium, comprising GMR Infrastructure Ltd and Malaysia Airports Holdings Berhad (MAHB), has been awarded the contract for developing the airport.
The shareholders agreement was signed between GMR Infrastructure Ltd, MAHB, the Andhra Pradesh government and the Airports Authority of India (AAI). It provided for 74 per cent equity contribution from the consortium and 13 per cent each from AAI and the state government.
The construction of the first phase will begin in September 2004 to be completed by September 2007. It will handle five million passengers and 100,000 tons of cargo.
The airport is aimed at turning Hyderabad into an international gateway by connecting it directly to major commercial and tourist centres around the world.
The existing airport at Begumpet was re-classified as an international airport in 2000 and as a result, a number of foreign airlines started operating from there. Though air traffic at Begumpet increased in the last one year, 40 per cent of the cargo inflow is being routed through other states due to insufficient infrastructure at the airport.
Infrastructure will be the one thing not lacking at the new international airport. The new airport will have a capacity to handle 40 million passengers per annum. The airport will have nine aerobridges, a car park wfor 2,500 cars.
The project also includes integrated development of international class facilities such as hotels, restaurants, golf courses and convention centres. The airport will come up over 5,276 acres - 1,909 acres of government land and 3,367 acres of private land.
The state will spend about Rs900 million in building an expressway to the airport and maintaining a continuous supply of water and power. The state government has already asked the Centre to extend the railway line of Falaknuma-Umdenagar section up to the international airport.
The Federal government will get about Rs 6,500 million as corporate tax to be paid by the airport company, in addition to the tax collections by the state government, sources said.
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