The India Infrastructure Finance Company (IIFCL) has approved loans amounting to Rs 8,800 crore for the development of airports and civil aviation infrastructure across India, according to Managing Director PR Jaishankar. The government has set ambitious goals for the expansion of the country’s civil aviation sector, necessitating substantial investments.
Jaishankar revealed that IIFCL has already sanctioned loans of approximately Rs 8,800 crore, with disbursements totaling around Rs 4,000 crore for airport projects. The company is a significant financier of airports in India and has provided support for airport projects with a combined project outlay of around Rs 74,000 crore. IIFCL has a presence in most major airports in the country.
Consequently, the passenger handling capacity is expected to increase from 350 million per annum to 500 million per annum by the end of the current fiscal year and reach 2 billion by 2047.
Jaishankar underscored the airport sector’s potential to have a significant positive impact on the economy, with an economic multiplier of 3.1 and an employment multiplier of 6.
To meet the growing demand for air travel in India, increasing airport infrastructure capacity has become imperative. The National Infrastructure Pipeline (NIP) outlines capital expenditures of approximately Rs 91,000 crore for the civil aviation sector over the next five years until FY25.
