The Bangalore International Airport Limited (BIAL), the operator of Kempegowda International Airport, Bengaluru (KIAB), has announced the financial closure for its ₹13,352 crore infrastructure expansion that includes construction of Terminal 2 and associated projects. The company has raised ₹10,206 crore through a syndicate of banks, including SBI and Axis Bank, with the project to be funded in a debt-equity ratio of 80:20. The Axis Bank has advanced ₹5,106 crore and SBI has committed ₹5,100 crore for the project, which is scheduled for completion by mid-2021. The debt will be repaid over a period of 10 years with a one-year moratorium, post completion of the project. MD & CEO, BIAL, Hari Marar, said that the timely financial closure will now enable them to focus on expansion and ensure that the projects are delivered within the timelines.
📅Published on:
09 August 2019
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