2-Nov-2009 12:53 PM

Airports Authority of India asesses fund raising options

Airports Authority of India (AAI) proposal to raise up to USD1 billion through the issue of tax free bonds is reportedly yet to be approved by the Indian Ministry of Finance (The Economic Times, 30-Oct-2009). The funds are required for investment in the upgrades of Chennai and Kolkata airports, and other non-metro airports. AAI may seek to loan the required funds from banks if the issue of bonds is not approved soon (The Times of India, 31-Oct-2009).