MRO operations under airports included in infra lending

MUMBAI: The Reserve Bank today included maintenance, repairs and overhaul (MRO) operations under the airport infrastructure category so as to facilitate external commercial borrowings for the sector.

"On a review, it has been decided that, for the purpose of ECB, 'Maintenance, Repairs and Overhaul' (MRO) will also be treated as a part of airport infrastructure," RBI said in a notification.

Accordingly, MRO, as distinct from the related services which are other than infrastructure, will be considered as part of the sub-sector of airport in the transport sector of infrastructure, RBI added.

In September, the central bank had liberalised the definition of infrastructure for the purpose of raising ECBs.

Infrastructure sectors include power, telecom, railways, roads (including bridges), sea port and airport, industrial parks, urban infrastructure (water supply, sanitation and sewage projects), mining, exploration and refining.