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Sep 14, 2017 10:14 PM IST | Source: PTI

Bengal government to raise stake in BAPL to 26 percent

The cabinet sub committee on Industry at a meeting on Thursday 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.

The West Bengal government on Thursday gave its nod to increase its existing share of 11.12 percent to 26 percent 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 at a meeting on Thursday 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 percent while IL&FS has 11 percent 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.
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