AAI values itself at Rs 80,000 cr

“KPMG did the valuation (without factoring a strong business plan). It did the valuation to the tune of Rs 20,000 crore that time. I think our valuation should be close to 80,000 crore with a business plan. Without strong business plan,valuation will not be high,” Agrawal told media persons on the sidelines of GMR Aviation Security Summit,a two-day conference which began today here.

He said the AAI is seeking the Government approval for Corporatisation and it may take a year before it came up with an IPO.

“Corporatisation of AAI is a good idea. We did our internal evaluation. And you know AAI is an authority. We have to go to the government again. Seek necessary permission for corporatisation. Seek business plans. Once the Government gives those clearances,then we will go for it. We are in the process. It may take one more year,” the AAI chief explained.

Former Minister for Civil Aviation Praful Patel in 2009 had said that plans for corporatisation of AAI were on cards and the move would help the Authority raise funds for developing various airports in the country.

AAI has presently 120 airports under its control of which 85 are operational.

Explaining the plans of airports development,he said currently they are improving or expanding 35 airports across the country.

“Out of the 35 airports,22 are completed. Rest are in the process of completion. Hopefully within a year,we will be completing them,” he said.

Replying to question on Begumpet Airport in Hyderabad,which has been lying vacant ever since the new greenfield air port at Shamshabad became operational in March,2008 the AAI chief said he had no plans to monetise the huge tracts of land available with the airport.

“It cannot be monetised. Whatever land we acquired is for aviation purpose. We will have to see for what other purposes could we use it. Though small scale monetisation can be considered,” he said.

Speaking on the installation of radioactive substance scanner in all international airports in the wake of suspected radiation from the travellers from Japan,he said the Government has entrusted the job to Electronic Corporation of India.