Bangalore airport work to start next month

Bangalore airport work to start next month
Business Standard

The construction work of the much-delayed greenfield Bangalore International Airport will begin next month, and the project's chief executive officer hopes the first flight would take off by February 2008.

"Nearly 99% of the legal formalities have been completed and signed. We have to sign a land lease deed, which I am confident will be done in the next few days. We should be in a position to start construction within a month from now," Albert Brunner, CEO of Bangalore International Airport (BIAL), said today.

BIAL has been formed to execute the airport project at Devanahalli, about 35 kms from the city. N R Narayana Murthy, Infosys founder and chief mentor is the chairman of BIAL.

The Siemens-led private consortium holds a 74% stake in the project that consists of European airport operator Unique (Zurich airport) of Switzerland and L&T.

Airport Authority of India (AAI) and the Karnataka State Industrial Investment Development Corporation (KSIIDC) - nodal agencies of the centre and the state - each hold 13% stake in the project.

Brunner said the final cost of the airport has escalated to Rs 1,411 crore including about Rs 100 crore in tax and duties as against the earlier projection of Rs 1,330 crore. (Press Trust of India)