India to spend $780m to upgrade 36 airports

India's Ministry of Civil Aviation will invest US$780 million in the financial year that began April 1 to upgrade 36 airports, reported Dow Jones Newswires.

Joint Secretary Alok Sinha said that of the $780 million, around $346 million is expected to be raised through loans and $130 million would be offered as a grant by the federal government.

The remaining amount will come from the state-run Airports
Authority of India's own funds.

Sinha said that while 34 airports proposed to be upgraded are in smaller cities, the authority would also upgrade the major airports of Kolkata and Chennai.
(Source:www.cargonewsasia.com)