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Bengal govt to raise stake in BAPL to 26 pc

Press Trust of India  |  Kolkata 

The 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 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 said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 14 2017. 21:02 IST