Changi Airports International (CAI), the Singapore based company has acquired 26 per cent stake in Bengal Aerotropolis Projects Ltd (BAPL) for $20 million (approx Rs 98 crore).
CAI is an airport investor and involved in providing consultancy and management services for airports. The stake has been acquired by Changi Airports India, a wholly owned subsidiary of CAI.
BAPL is setting up a greenfield project at Durgapur in West Bengal, which will have an airport, an industrial park and IT parks, and residential complexes with an investment of Rs 10,000 crore. The company is likely to complete land acquisition and start work by the first quarter of 2010.
CAI is expected to provide detailed master plans for the airport construction and review the detailed engineering design. It will also look at operations and management of the airport at a later stage.
Source : ProjectsToday
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