Bengaluru airport raises Rs 10,206 crores

Bengaluru: The Bangalore International Airport Limited (BIAL) announced on Tuesday the financial closure for its Rs 13,352-crore infrastructure expansion that includes construction of the terminal-2 and associated projects.

Operator of Kempegowda International Airport, Bengaluru, BIAL said it has raised Rs 10,206 crore through a syndicate of banks, including State Bank of India and Axis Bank, with the project to be funded in a debt-equity ratio of 80:20.

While Axis Bank has advanced Rs 5,106 crore, SBI sanctioned Rs 5,100 crore for the project that is scheduled for completion by mid-2021, BIAL said in a statement here.

The debt would be repaid over a period of 10 years with a one-year moratorium post completion of the project, it said.