AP clears Rs. 650-cr for airport project

    Andhra Pradesh Airport Project
    With the inking of an agreement whereby Andhra Pradesh Government stands guarantor to the Rs.650-cr loan by HUDCO, decks have been cleared for the construction of the Bhogapuram International Airport on the outskirts of Visakhapatnam in the state. The agreement has been signed among Andhra Pradesh Finance department, HUDCO, and the Special Purpose Vehicle Bhogapuram International Airport Company Ltd. (BIACL), said official sources, adding that the funds will be utilised by the government to acquire 2,400 acres for the Airport in the first phase and that the amount worth Rs. 650-cr will be released by the HUDCO in the next fortnight to BIACL. This is one of the major projects proposed by the Investment and Infrastructure department of the state government, said official sources.
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