The Rs 20,000-crore proposed greenfield airport for Chennai at Parandur will be built by 2028 and its investment to returns ratio will be Rs 100:Rs 325, said state industries minister Thangam Thennarasu.
He also allayed apprehensions of landowners in the area saying they will get a compensation higher than the market rate.
The state government has identified Parandur, 69km, from Chennai, to set up a new airport on 4,700 acres to meet passenger traffic needs for 30-35 years.
The existing Chennai airport at Meenambakkam will also be operated after the new airport is built.
“A high-level committee will be set up to suggest new technologies and schemes to preserve and maintain the water bodies, improve groundwater level in Parandur. The suggestions of the committee will be carried out to prevent shortage of water for the villages in and around Parandur and ensure that there is no flooding during rain,” he said in a statement.
The move is also to ensure that water bodies in Parandur will not get affected by the construction of an airport. “The Periya Nelvoy lake spread across 360 acres, though located within the project area, will be deepened and protected.” He said the water bodies at the site will be interlinked to meet the irrigation requirement of the farmlands
Regarding the economic benefits of the new airport, he said that ICAO study shows that for every Rs 100 spent for air transport investment will get a return of Rs 325 and can create 100 direct jobs, and 610 indirect jobs. “The new airport will improve quality of life and offer economic benefits for the villagers in and around Parandur.”
Justifying the need for a new airport, Thennarasu said, “If a new airport is not set up by 2028, the growth of the city and its surrounding districts can become stagnant and a circumstance will arise where the state can lose the economical and employment growth facilitated by development of air transport.”
The annual passenger growth of Chennai airport was 9% as per the CAGR for 2009-19 period. This means that after the existing expansion work is completed, the annual passenger handling will touch 35 million in 2028.”
Further, land acquisition is difficult for the existing airport because of densely populated neighbourhoods. There is no space to park planes near the terminals.