Thiruvananthapuram: The Feasibility Report of Techno-Economic (TPR) for the proposed Sabarimala Airport project has predicted that the airport will be damaged even in just 60 years.
TPR prepared by M / S Louis Berger Consulting Pvt Ltd, the Consultant appointed by the Government to conduct research, (accessed by TOI), said the ‘project is expected to pause even in 60 years, with an internal refund rate of equity (IRR) 11.8 % Over a 60-year period with a current net value (NPV) around Rs 8,900 Crore ‘.
The airport, which was proposed as an international spread in 570 hectares of Cheruvally area, is expected to be able to follow the Cannur International Airport model (KIAL).
According to government sources, the long-term period will mean that the government will find it difficult to secure investors for the project.
“Given the Kannur airport, based on where the proposed Sabarimala airport is also modeled, it is very difficult to find resources for operational costs, should be seen how the government decides to continue the new project.
But no one will stop the government to fund the project,” said a top government official.
According to the report, in addition to the RS 570 Crore needed for land acquisition, it is estimated that RS 1,390 Crore will be needed for phase-I, where RS 723 Crore must be spent on site preparation only.
Costs have been calculated in 2018, with an annual increase of 5%, which will mean that in 2022, the project costs for phases – I will be anywhere close to Rs 1,700 Crore.
The airport operating costs will increase from Rs 52 Crore in 2025 to RS 524 Crore in 2050.
At the same time, the income from the airport has been estimated at Rs 122 Crore (including RS 113 Crore from Aero and RS 9 Crore from non-Aero Commercial ) In 2025 which is expected to increase to 1,662 crore Rs (RS 1538 Crore from Aero and Rs 124 Crore from Monero Commercial) in 2050.
This proposal is to complete the airport in two phases – one starting from 2025 to 2035.
And then from 2036 Until 2048.
The 2,700m long runway was proposed.
According to the annual passenger estimates for the proposed airport, passenger traffic will reach 2.45 million in 2030, and 6.42 million in 2050.
The proposed airport, one of the 22 projects being tracked by the government, planned at Cheruvally Estate , close to the city that is erately.
The proposed site is located on the road to Sabarimala, about 50 km from Pamba.
Also close to the Hill Highway proposed and 88km and 110 km (air distance) from Cochin International Airport and Thiruvananthapuram.