Bengaluru: The State government has decided to revive the controversial Krishnadevaraya greenfield airport project in Ballari, which was planned and designed by the previous BJP government.
The State Infrastructure Development Department (IDD) will soon be signing a supplementary Project Development Agreement (PDA) with the promoter MARG Krishnadevaraya Airport Pvt Ltd for reviving the project. The IDD has also decided to amend the original PDA signed in 2010, enabling the promoter to take up the project. The Karnataka Industrial Area Development Board (KIADB) has already initiated the process to hand over 892 acres of land to the company.
The IDD forfeited Rs four crore deposited by MARG as bank guarantee in 2010, the validity of which had expired in January 2015. The company has recently deposited Rs four crores afresh with the IDD as bank guarantee under the project.
15/09/15 Deccan Herald
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The State Infrastructure Development Department (IDD) will soon be signing a supplementary Project Development Agreement (PDA) with the promoter MARG Krishnadevaraya Airport Pvt Ltd for reviving the project. The IDD has also decided to amend the original PDA signed in 2010, enabling the promoter to take up the project. The Karnataka Industrial Area Development Board (KIADB) has already initiated the process to hand over 892 acres of land to the company.
The IDD forfeited Rs four crore deposited by MARG as bank guarantee in 2010, the validity of which had expired in January 2015. The company has recently deposited Rs four crores afresh with the IDD as bank guarantee under the project.
15/09/15 Deccan Herald
