BIAL braces for Rs 1,000cr facelifts
The Bangalore International Airport (BIAL) is in the process of getting Rs. 1000cr upgradation including expansion of Terminal-1 accommodating the mighty Airbus A380 and doubling its capacity on the passenger terminal side, Managing Director, G V Sanjay Reddy said.
The G V K Group, which is the second largest investor with 29 per cent stake in BIAL recently decided a 18-month long expansion to address the growth in passenger traffic and concerns over the airport’s infrastructure and design. The company is keen to fulfill immediate requirements, while a larger expansion of terminal-2 would get underway during the later half of next year and would be completed by 2014-15 when it would be ready to handle annual passenger traffic of 17 million, he added.
Claiming that the BIAL is funding the expansion through bank loans of about Rs. 700cr and remaining apportion through equity. Moreover finances would be tied up very shortly as many banks have offered to lend funds for the project. The airside improvements and a second runway would follow over the next couple of years as the company is in the process of revising the master plan and is watching the growth in traffic closely before taking a final decision on the T-2. In addition, the company is also building high speed airport rail link, which is currently being tendered out after the state government had asked BIAL to share some of the cost of the mega project, he said.
The G V K Group, which is the second largest investor with 29 per cent stake in BIAL recently decided a 18-month long expansion to address the growth in passenger traffic and concerns over the airport’s infrastructure and design. The company is keen to fulfill immediate requirements, while a larger expansion of terminal-2 would get underway during the later half of next year and would be completed by 2014-15 when it would be ready to handle annual passenger traffic of 17 million, he added.
Claiming that the BIAL is funding the expansion through bank loans of about Rs. 700cr and remaining apportion through equity. Moreover finances would be tied up very shortly as many banks have offered to lend funds for the project. The airside improvements and a second runway would follow over the next couple of years as the company is in the process of revising the master plan and is watching the growth in traffic closely before taking a final decision on the T-2. In addition, the company is also building high speed airport rail link, which is currently being tendered out after the state government had asked BIAL to share some of the cost of the mega project, he said.
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27 August 2010
