Changi Airports International picks up 26 per cent in Durgapur ‘aerotropolis
17 Jul 2009
Singapore's Changi Airports International (CAI) has confirmed its first major investment in India's aviation sector, with a 26 per cent stake in a new $2.1 billion combined airport-city complex to be located in the steel-making town of Durgapur in the state of West Bengal in the eastern part of the country.
Durgapur is located 184km north-west of Kolkata, the capital of West Bengal state.
The joint-venture privately owned 'aerotropolis' will boast of an industrial park, logistics hub, information technology park and a township around the airport.
CAI, the international arm of Changi Airport Group (CAG), has entered into a deal with Bengal Aerotropolis Projects Limited (BAPL), which has launched the airport project.
According to Wong Woon Liong, chief executive officer of Changi, CAI already has a technical service agreement (TSA) to support the planning and development of Durgapur Airport, and will enter into an operations and management agreement (OMA) to assist in the management of the airport once construction is completed.
The comprehensive TSA will involve CAI providing a suite of technical services for the development of Durgapur Airport.
