The Hindu Business Line : Revised cost of Bangalore airport likely to be considered today

The Union Cabinet is likely to consider the revised project cost of Rs 1,930 crore for the new Greenfield airport in Bangalore at its meeting here on Thursday.

Earlier, the project was to be completed at a cost of Rs 1,411 crore. The need for seeking additional funding is being felt as the airport is likely to meet the passenger traffic projections of 2020 during the year 2010 itself, according to officials.

The additional funds would be raised by the joint venture company, Bangalore International Airport Ltd, primarily to finance the redesigning of the project, official added.

BIAL is a joint venture of Siemens Project Ventures (40 per cent), L&T, Zurich Airport (17 per cent each) and public sector partners, AAI and KSIIDC (13 per cent each).

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