Ministry of Civil Aviation & Ministry of Defence approve BAPL's Greenfield International Airport in Ludhiana

New Delhi, March 4, 2009: Bengal Aerotropolis Projects Ltd. (BAPL) the specialist company engaged in the development of Aerotropolis projects in the country has received the site clearance from the Ministry of Civil Aviation & Defence for setting up a greenfield airport at Machhiwara in Ludhiana, Punjab.

Commenting on this, Mr. Raj Shekhar Agrawal, Director BAPL said, "We are glad to receive clearance from both the ministries for the Greenfield airport project and will now proceed with the Techno Economic Feasibility Report (TEFR) which is expected to complete in the next four to six months". "We will be investing around Rs 2000 crore in the first phase of the project including construction of the airport and land acquisition. Additional costs would be incurred in the second phase", he further added.

BAPL had earlier signed a memorandum of Understanding (MOU) with Punjab State Industrial Development Corporation Limited (PSIDC) for setting up an aerotropolis in the Punjab region whereby PSIDC will facilitate development of the project. It has also signed a MOU with Changi Airports International Pte Ltd for the planning and development of the Aerotropolis in Punjab.

BAPL had recently commissioned Indian Market Research Bureau (IMRB) for a study on the need and potential for an international airport in Ludhiana. The findings of the study revealed that the overall outlook for air travel in the Ludhiana region is very positive and there is high passenger potential for domestic and international routes.

The Ludhiana Aerotropolis will be country's second after the Durgapur Aerotropolis. The project will be spread over 3500 acres of land, out of which 2500 acres will be developed in the first phase.

Source : Equity Bulls

Keywords