Govt, AAI ink Pact for Air Terminal at Halwara || SNE
By tribuneindia .
Jun 14, 2019
Tribune News Service
Chandigarh, June 12
The state government and the Airport Authority of India signed an agreement for setting up the New Civil International Air Terminal at IAF Station, Halwara, Ludhiana.
Earlier, the state government had signed an MoU with the MoCA and Airports Authority of India(AAI) for the same.
An official spokesperson said the agreement was signed by Tejveer Singh, PS, Civil Aviation, for state government and GD Gupta, ED, AAI, in the presence of Punjab Chief Secretary Karan Avtar Singh and AAI Chairman Guruprasad Mahapatra.
The project will be implemented through a Joint Venture Company (JVC) is formed with the majority stake of 51 per cent of the Airports Authority of India (AAI) and 49 per cent stake of the state government thorough the Greater Ludhiana Development Authority (GLADA).
As per the agreement, the Airports Authority of India (AAI) will bear all capital expenditure of development of the new airport; while the state government will provide 135.54 acres free of cost and free of all encumbrances for the project and the JVC shall bear all expenditure on operation, management and maintenance, including repairs.
It is expected that Phase I of the project will be completed within two years.