The union civil aviation ministry is likely to give site clearance for the proposed greenfield airport in Bhogapuram in the next one month. The state goverment had setup a special purpose vehicle set up in May this year to execute the airport project.
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It is also in the process of seeking loans to the tune of 1500 Crore to meet the cost of pre-development activities such as land acquisition, relief and rehabilitation, community activities and also provision of external utility infrastructure such as approach roads, water and power to the project site.
Bhogapuram Aerotropolis project comprises of an international airport, maintenance repair and overhaul facility and an aviation academy. The new airport is planned to ease the burden on Vishakapatnam airport which registered a whipping 90.8% increase in passenger traffic between April and August 2015 as compared to the corresponding fiscal last year.
