Govt to consider Bangalore airport SEZ proposal on May 1

New Delhi: Government is likely to consider this week the proposal of the Bangalore International Airport Ltd (BIAL), developer of the new airport at India's silicon valley, for setting up an airport-based Special Economic Zone.
The business outfits within the SEZ, coming up at an area of 113 hectares at Devenahalli, will enjoy tax benefits guaranteed under the law.
The Rs 2470 crore private international airport will have a business focus on retail for airport travellers. The airport project has almost been completed and is due to open for commercial operations early next month.
The Board of Approval in the Commerce Ministry, which will take up the BIAL proposal for SEZ at its meeting on May 1, has already received a no objection certificate from the Karnataka government for the project, official sources told media.
BIAL has been promoted by Siemens Projects Ventures, Larsen and Toubro and Unique Zurich Airport, which together hold 74 per cent equity, while the remaining capital is owned by the Central and state agencies.
27/04/08 PTI/Economic Times

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Categories: Airports Apr 2008, New Apr 2008