Devanahalli Airport: Financial closure by June end

Devanahalli Airport: Financial closure by June end
Deccan Herald

The ‘financial closure’ of the Rs 1,200-crore greenfield Bangalore International Airport, coming up at Devanahalli, is expected to be completed by June end.

While civil work at the site has already commenced it came as a surprise as Bangalore International Airport Limited (BIAL), which is implementing the project, is yet to announce financial closure for it.

According to sources, the financial closure by BIAL and ICICI, the lead bankers for the project, will be announced on June 28 or 29. The main work will start only after the financial closure of the project, the sources added. The airport, expected to be ready for operation in 33 months, is the first project taken up on the basis of public-private partnership in the country.