Thursday, December 15 2005 15:46 Hrs (IST) - World Time -

New Delhi: Public sector Airports Authority of India (AAI) plans to hit the market to raise upto Rs 5,000 crore for funding development of non-metro airports.

"AAI has plans to borrow a sum of Rs 4,000-5000 crore in one or more trenches over next 4-5 years for funding the development/modernisation of tentatively selected 35 non-metro airports," Union Civil Aviation Minister Praful Patel said in a written reply in the Lok Sabha.

He said Centre has not asked the State Governments for sharing the expenditure for expansion and modernisation projects of airports in their respective states.