Hyderabad: With a view to speeding up the Bhogapuram international airport project, the AP government Wednesday gave administration sanction for release of Rs 50 crore towards land acquisition.
The Vijayanagaram district collector had requested release of Rs 100 crore towards payment of ex-gratia to the assignees and legal heirs of land losers for formation of the International green-filed airport.
The state government has formed the Bhogapu-ram International Airport Company (BIACL) under Companies Act which shall be fully owned by the state government.
Styled as the Bhogapuram Aerotropolis Project, it comprises an international airport, its maintenance, repair and overhaul (MRO) facility and an aviation academy.
The board of directors of BIACL authorised the company to approach commercial banks, financial institutions and infrastructure lending organisations for loans to an extent of Rs 1500 crore related to pre-development activities.
The money would be used principally towards land acquisition, rehabilitation and resettlement (R&R) costs and creation of external utility infrastructure such as approach roads, water and power connection for the project site. The AP government, by another decision, has sanctioned Rs 1 crore to BIACL to meet its administrative expenses.
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