[ 7 Sep, 2006 2328hrs IST TIMES NEWS NETWORK ]
BANGALORE/NEW DELHI: Two months after the construction work at redesigned portions of the Bangalore international airport began, the Union cabinet formally endorsed the changes on Thursday.
The project — redesigned at the behest of Union civil aviation minister Praful Patel — will now be able to accommodate 11.4-million passengers annually in the sprawling 7-acre terminal.
The projected traffic is 8.4 million by 2010. The Union cabinet also approved amendments to the concession agreement with BIAL, allowing the joint venture firm to re-design the airport.
As against the initial forecast of 41,000 aircraft movements per year in 2010, the latest projection has increased it to 1, 06,000, forcing BIAL to re-design the airport by merging the second phase of construction with the first phase, to be completed by 2010.
The projected cost after redesign goes up from Rs 1,411.79 crore to Rs 1,930.29 crore. The additional amount would be raised by BIAL through loans and advances from third-party service providers, like cargo handling or fuel supplies, and not through additional equity or state support.
About Rs 450 crore would be taken from lenders and Rs 68.5 crore from service providers, raising the debt-equity ratio from 2.25:1 to 3.63:1, an official spokesperson said.
Under the new design, the total built-up area for the passenger terminal building would be increased to 71,000 sq metre as against 55,850 sq metre.
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