DIAL pleads not guilty
Posted by- Neelam Mathews Aug 10, 2012 The note below was sent out by DIAL clarifying issues pointed out in the media. Allegation: ... DIAL got the airport modernization project for 60 years with an earning potential of Rs. 1,63,557 Crores DIAL says- • The number of Rs. 681.63 Crore per acre indicated by DIAL was the sum total of the lease rental that could be generated through license fee over a period of 58 years and 45.99% of these earnings were to be passed on to AAI ‒ (Rs. 681.63 Crore per acre is calculated by taking the sum total of lease rental over 58 years @ Rs. 1.58 Crore per acre p.a., and an average escalation of 5.8% p.a.) Also, it is unrealistic to assume that the entire area for commercial usage can be monetized in a short-term. In fact, as per estimates it may take 20-25 years to completely develop this land – thereby the calculation of Rs. 1,63,557 Crore is erroneous • Notwithstanding the above points, the allocation ...