Singapore's Changi Airport International Pte has acquired a 26% stake in Bengal Aerotropolis Projects Ltd (BAPL), who is developing India's first privately owned greenfield airport project. The project is being developed in Durgapur, the industrial hub of West Bengal, which is about 160 km away from Kolkata. The other four stakeholders in the firm, who have the remaining 74% in the firm, are Pragati Social Infrastructure, Pragati 47, Lend Lease Ltd and City Star Ltd. The stake has been picked up through Changi Airport India Pte Ltd, reports Economic Times. Changi had already signed a technical services agreement with Durgapur Aerotropolis last year.
Durgapur Aerotropolis is a $2.5 billion project and is coming up over 950 hectares of land in the Durgapur-Asansol region. While the airport is coming up over a 300 hectare region, the rest will be used for an industrial park, logistics hub, IT park with supporting infrastructure like housing, tourism and healthcare facilities. Changi is also trying to rope in Singapore-based Jurong International to set up an industrial park in the region.