BIAL in expansion mode; looks to buy out Siemens' stake

19 Aug 2010

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Bangalore International Airport Limited (BIAL) is investing Rs1,000 crore for expanding Terminal One to cater to a passenger traffic of around 17 million by 2014-15.

The expansion plan involves nearly doubling the existing 72,000 sq m space to 1,34,000 sq m, G V Krishna Reddy, vice-chairman of BIAL, said.

He said GVK Power and Infrastructure, which holds 29 per cent stake in the BIAL, is ready to pick up Siemens Project Ventures' stake if it decides to sell it.

"We are interested in picking up a stake. But they have to offer it," Reddy said, adding, "If they sell it, we have the first right of refusal."

Siemens, which has a 40 per cent stake, has a lock-in period for selling stakes. "They could sell 14 per cent by next year and 26 per cent by 2015," he said.

GVK acquired the 27 per cent stake in BIAL by buying out the 17 per cent stake of Larsen and Toubro Ltd (L&T) for Rs686 crore and the 12 per cent stake of Zurich Airport for Rs484.6 crore.
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Giving details of the expansion, Sanjay Reddy, MD, BIAL The new expanded Terminal one, designed by HOK, a global architectural firm, along with several leading planners, urban designers, engineering consultants and architects, will have 83 check in counters.

The number of baggage reclaim belts will go up from nine to 13 while seating arrangements will more than double to 5,300 from the existing 2,300.

There will be 15 Code C and seven Code E boarding gates in place of the present eight Code C and four Code E gates.

BIAL is a listed company set up to build, own and operate the greenfield private sector airport in Bangalore. Private promoters hold 74 per cent stake in BIAL while the government holds the remaining 26

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