Latest News | JSW Group Keen on Acquiring Stake in Bengal's Andal Airport
Get latest articles and stories on Latest News at LatestLY. JSW Group has expressed interest in entering the airport infrastructure and management sector, with a focus on acquiring a stake in Andal airport in West Bengal's Durgapur, its chairman Sajjan Jindal said on Wednesday.
Kolkata, Feb 5 (PTI) JSW Group has expressed interest in entering the airport infrastructure and management sector, with a focus on acquiring a stake in Andal airport in West Bengal's Durgapur, its chairman Sajjan Jindal said on Wednesday.
At the end of the day's session of Bengal Global Business Summit (BGBS), Chief Minister Mamata Banerjee said Jindal was keen on upgrading Andal airport into an international airport.
Jindal, who was in Kolkata, held discussions with two key stakeholders—the West Bengal government and SMIFS Capital—regarding the proposed stake acquisition.
"The airport, managed by Bengal Aerotropolis, also has Changi Airport of Singapore as a major stakeholder," he added.
"We will engage with the other stakeholders as well," Jindal said, highlighting the airport's strong potential due to its catchment area.
He indicated that they want Changi Airport continue to run the airport and state government should remain on board.
It was not immediately clear whether JSW will go for a majority controlling stake or remain as non-controlling investor.
Details are yet to be worked out, officials said.
He also indicated that JSW Infrastructure would spearhead this project, adding that if successful, it would pave the way for the group's broader entry into the airport infrastructure business.
Andal airport, officially known as Kazi Nazrul Islam Airport, is the first greenfield private airport in the country under the public-private partnership model.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)