The civil aviation ministry has estimated the cost of upgrading the Delhi and Mumbai airports at Rs 3,500 crore.
It has directed the Airports Authority of India (AAI) to engage international consultants for the upgradation of infrastructure and construction of terminals at the airports.
The deadline for appointing the consultants is March 2003. The target for the completion of the upgradation work at both the airports has been set for October.
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The ministry has shelved privatisation plans for the two airports for the time being and will instead set up separate companies for them.
The companies would be under the Airports Authority of India and might have separate managing directors, official sources said.
The proposal was chalked out after discussions between the finance secretary and his counterpart in the civil aviation ministry, they added.
Of the Rs 3,500 crore required for the upgradation, the Delhi airport is likely to get the lion