Bengal govt to raise stake in BAPL to 26 pc

The West Bengal government today gave its nod to increase its existing share of 11.12 per cent to 26 per cent at Bengal Aerotropolis Projects Ltd (BAPL), -- a move which is believed to save the country's first greenfield private airport.
The cabinet sub committee on Industry today at a meeting held at the secretariat decided to infuse Rs 180 crore besides, Rs 120-crore as loan repayment into the project, a senior official of the state said.
BAPL, the promoter of the private airport at Andal, had sent a request to the West Bengal Industrial Development Corporation (WBIDC) seeking financial assistance.

WBIDC, is one of the stakeholders of BAPL, along with Changi Airport International which currently has a share of 36.72 per cent while IL&FS has 11 per cent and the remaining stakes held by other promoters.
In the letter, the BAPL had proposed increasing the state's share at the airport and a grant of Rs 300 crore loan to them, a senior official of the state government said.