New Delhi: The Airports Authority of India (AAI) on Friday said it will complete modernisation of Chennai and Kolkata airports by the end of the fiscal.

"We have been given the task to (upgrade) 35 airports. Two major airports are being the Chennai and Kolkata airports. We will hopefully commission Chennai by December and Kolkata by March next year," AAI chairperson V P Aggarwal said on the sidelines of a summit here.

The AAI, which had taken up modernisation and upgradation of 35 airports across the country, is likely to complete work on all projects by March next year.

The project also includes construction of runway at certain terminals, he said.

The commissioning of 35 airports is being carried out with a budget provision of Rs 12,000 crore in the 11th Five Year Plan, he said. He added, "Rs 2,000 crore is to be borrowed from banks. We have been so far able to borrow from banks directly."

Out of 35 airports, modernisation of 24 is being carried out under the public-private partnership (PPP) mode.

The exercise is aimed at maximising commercial revenues (non-aeronautical) of these airports with the private players managing facilities such a parking, restaurants and shops.

The consortium of selected bidder and AAI would commercially operate the airports and maintain their terminal buildings.