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The project will see an industrial park, a logistics hub, an IT park and a township developed around the airport |
INDIA. Changi Airport Group’s international arm, Changi Airports International (CAI), has taken a 26% stake in Bengal Aerotropolis Projects Limited (BAPL). The project marks CAI’s first investment in an Indian greenfield airport city project, and is the Group’s first overseas investment since its launch on 1 July.
The Durgapur Aerotropolis is India’s first “˜aerotropolis’ project and its first privately owned merchant airport. The project involves the setting up of an industrial park, a logistics hub, an information technology park and a township around the greenfield airport.
CAI Chief Executive Wong Woon Liong said: “The deal signifies an important step forward for CAI to participate in the growing Indian aviation industry. With this definitive milestone we will use our expertise to support the expansion of the Durgapur Aerotropolis into a major industrialised area.”
BAPL has already entered into a Joint Venture Development Agreement with West Bengal Industrial Development Corporation, the West Bengal State Government nodal agency, to facilitate the implementation of the project. Overall the project aims to attract US$2.5 billion worth of investment.
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Changi Airports International will support the expansion of the Durgapur Aerotropolis into a major industrialised area |
CAI has in place a Technical Service Agreement (TSA) to support the planning and development of Durgapur Airport, and will enter into an Operations and Management Agreement (OMA) to assist in the management of the airport once construction is completed.
The comprehensive TSA will involve CAI providing a suite of technical services for the development of Durgapur Airport. Support from CAI will come in four phases spread over a period of 24 months. These will include reviewing the Airport Master Plan, selecting consultants in the pre-construction phase, review of the detailed engineering design and drawings of the airport and the related infrastructure and preparations for operational readiness during the set-up phase of the airport opening.
The TSA also involves CAI in facilitating the training of BAPL senior management in Singapore. The comprehensive training programmes aim to provide senior level managers of BAPL with an in-depth understanding of the complexities of running an airport.
The OMA will involve CAI in deploying a resident team in Durgapur for the operations and management of Durgapur Airport. The resident team is expected to manage the landside, apron, commercial and operations activities in the airport.
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The deal signifies an important step forward for CAI to participate in the growing Indian aviation industry |
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 inject 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 fullest potential.”
“The Durgapur Aerotropolis marks the Group’s first investment in an aerotropolis concept, and we believe the plan for this airport city will help deliver a vibrant new economic hub for the West Bengal region,” he added.
BAPL Chairman Arvind Pande concluded: “CAI has an enviable track record and stands for the best in terms of experience and technology, and that is reflected in the number of successful projects they have executed. This alliance will add momentum to the Durgapur project and enable us to turn this into one of the most efficient airports in the country.”
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