India may invest around Rs 16.6 bn to buy 70% in Sri Lankan ghost airport

Decision to invest in one of the largest ghost airports of the world was prompted by a strategic reason

In a move to counter China’s growing presence in Sri Lanka, the Airports Authority of India wants to pick up a controlling stake in Sri Lanka’s Mattala Rajapaksa International Airport, a ghost airport from where no airline flies. This will be the first time the AAI will own an airport outside India.

Once the agreement, which is in the works, is finalised, the AAI is likely to invest around Rs 16.6 billion ($250 million) to buy 70 per cent in the airport located south-west of Sri Lanka, according to officials in the know. The remaining stake will be held by