The West Bengal Industrial Development Corporation (WBIDC) signed a joint venture development agreement with Bengal Aerotropolis Projects (BAPL) yesterday for setting up India's first aerotropolis (airport city) in the Durgapur-Asansol region of Bardhaman district, at an estimated investment of Rs10,000 crore. BAPL is a special purpose vehicle that has been set up to implement the Durgapur Aerotropolis project. The consortium includes Pragati 47 Development, Citystar Infrastructures, Land Lease Company (India) and Pragati Social Infrastructure & Development, (a joint venture of Housing & Urban Development Corporation). The Durgapur Aerotropolis, to be spread over an area of 2,300 acres of land, will entail an investment of Rs 10,000 crore. It will house an industrial park, IT park, housing facilities, hospitals, markets, theme parks, schools, community centres, etc.
Source: TravelBizMonitor.com
19th January, 2008