SINGAPORE – Changi Airports International – the overseas investment arm of the Civil Aviation Authority of Singapore – has taken a stake in a major airport project in eastern India.
Three years ago, Changi Airports opted out of participating in the modernization of Delhi airport.
The US$2 billion Bengal Aerotropolis Project will combine an international airport with an IT park, logistics hub and township in Durgapur, a steelmaking town two hours by road from Calcutta.
Changi Airports’ stake in the project is believed to be worth about US$126 million, according to the Straits Times, which says that the new airport could grow into a hub for the entire north-east of India.
