Bengaluru International Airport (BIAL) is set to invest around $2 billion for creating infrastructure to cater to 65 million passengers against 20 million now.
India-born Canadian billionaire Prem Watsa, who is chairman of Fairfax, which owns majority stake in BIAL, wrote in a letter to shareholders that the airport’s second runway would be completed in 2019 and construction of the second terminal is likely to be over in 2021.
BIAL’s total equity value is estimated to be around $1.2 billion.
A syndicate of Indian banks has approved the debt-to-equity ratio of 80:20 at attractive interest rates, he said.
