Saturday, August 18, 2012

NEWS | CAG slams development fee, concessional land to GMR-led DIAL

Government auditor CAG on Friday slammed the government for giving out Delhi airport and its land with a potential earning capacity of Rs 1,63,557 crore to private-led operator DIAL which made a total equity contribution of only Rs 2,450 crore.

With an equity contribution of Rs 2,450 crore of which the private GMR-led consortium's share was Rs 1,813 crore, the Delhi International Airport Limited (DIAL) got a brownfield airport for 60 years, the report of the Comptroller and Auditor General (CAG) said. A brownfield airport is one which is already in existence.
The CAG report on the 'Implementation of Public private partnership Indira Gandhi International Airport, Delhi', tabled in Parliament, claimed that the commercial rights of land was valued at Rs 24,000 crore with a potential earning capacity according to its own estimates of Rs 1,63,557 crore.

SOURCE:http://avindia.blogspot.in/2012/08/cag-slams-development-fee-concessional.html

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