Singapore's Changi Airports International (CAI) has picked up 26% stake in Bengal Aerotropolis Projects Ltd (BAPL), the specialist company developing Aerotropolis projects in India. The stake has been picked up by Changi Airports India, the 100% subsidiary of Changi Airports International. CAI CEO Wong Woon Liong and Deputy CEO Eugene Gan have been inducted as directors on BAPL board. BAPL is currently setting up the Rs 10,000-crore airport city in Durgapur, West Bengal. Last year in February, BAPL had signed a Technical Services Agreement (TSA) with CAI for the Durgapur Aerotropolis project. Under the agreement, CAI is providing advisory services to BAPL in planning, supervising execution and commissioning of the proposed airport.
Commenting on the alliance, BAPL chairman Arvind Pande said: This alliance will add momentum to the Durgapur project and enable us to turn this into one of the most efficient airports in the country.”
Source: Construction Weeks Online