Manufacturing Industry
Funding agreement for Bangalore airport signed
Airline Industry Information, June 28, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
A funding agreement has been signed by lenders and shareholders for a new international airport in Bangalore, India, the CEO of Bangalore International Airport Ltd said on Monday (27 June).
The airport, expected to be ready in April 2008, is to cost INR14.11bn, 23.1% of which will come from shareholders and the rest from lenders, said the CEO. The shareholders include Siemens Project Ventures (40% share), Zurich International Airport and Indian construction company Larsen and Toubro (17% each), the Indian government and the government of southern Karnataka state (13% each).
The new airport, which will be able to handle over 5 million passengers a year, will replace an existing facility which is unable to handle additional flights, reported The Associated Press.
((Comments on this story may be sent to aii.feedback@m2.com))
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