Under phase II of Chennai airport modernisation project, Rs 2500 crore has been granted to add new high-tech terminal with facilities like parking bays for aircraft and a multi-level car parking lots, as announced by the Airports Authority of India.

The Chennai airport will get a brand-new terminal worth Rs 2500 crore within 45 months with plane parking bays and multi-level parking lots among other facilities. The addition of new terminal is the second phase of the Chennai airport modernisation programme conducted by the Airports Authority of India. The new terminal is expected to be ready within 42-45 months and improvise the busy airport by increasing the number of arrivals and departures, as well as serve more air passengers efficiently.

Airport Director, Airports Authority of India (Chennai), G Chandramouli said that they had seen 20% increase in the number of passengers in last three months and is continuously in rise. So to meet the infrastructural needs to serve and handle more passengers, the AAI has decided to add the new terminal. About the funding for the modernisation project, 60 per cent will be collected from borrowings while 40 per cent through internal resources. However, AAI will look into market trends before opting for loans or bonds.

For the construction of new terminal for Chennai Airport, private player Larsen and Toubro have started excavation work on site and the State Pollution Control Board will soon grant approval. AAI, Member (Finance) S Suresh said that the government has already sanctions Rs 1500 crore budget and approved Rs 9,430 crore to be taken as loan in the next five years, for modernisation of airports all over India.