Changi Airport Group acquires stake in Indian airport
The company’s international arm has acquired a 26% stake in Bengal Aerotropolis Projects Limited, India’s first privately-owned commercial airport operator
Singaporean airports company Changi Airport Group has acquired a 26% stake in Bengal Aerotropolis Projects Limited (BAPL) through its international arm Changi Airports International (CAI). The project marks CAI’s first investment in an Indian greenfield airport city project. The Durgapur Aerotropolis in West Bengal is also India’s first privately-owned commercial airport.
CAI has signed a technical service agreement (TSA) to support the planning and development of Durgapur airport in four phases spread over two years. CAI will review the airport’s master plan, the airport blueprint and engineering design, and help the airport to prepare for operational readiness during the set-up phase.
Changi Airport Group CEO Lee Seow Hiang, said: “We are excited to be a part of this significant development in the Indian aviation sector. We hope to bring our technical expertise and experience, drawn from more than two decades of running Singapore Changi airport—one of the world’s best airports—to help develop Durgapur airport and its surrounding area to its full potential.”
BAPL chairman Arvind Pande added: “CAI has an enviable record and stands for the best in terms of experience and technology in this space and that is reflected in the number of successful projects it has executed. This alliance will add momentum to the Durgapur project and will enable us to turn this into one of the most efficient airports in the country.”
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