The company which manages Zurich airport, Unique, is to help build and operate a new international airport near Bangalore in south central India.This content was published on January 24, 2002 - 10:17
Thursday's announcement marks a breakthrough in the firm's strategy to develop activities as a consultant and manager of international airports.
In a statement, the company said a deal was signed with other partners on Wednesday and that its total investment would be SFr16 million ($9.6 million).
Milestone to expand business
It added that the contract was a "milestone" for the company in that it presented opportunities to expand business beyond its home base of Zurich.
Under the terms of the deal, Unique will be responsible for the management of the entire project at Devanahalli, north of Bangalore.
It said it would use experts who have been working on the fifth construction stage of Zurich Airport.
Unique said it would also oversee activities when the airport is put into operation and then take over its management.
Same quality standards
It added that the aim was to provide the same quality standards that exist at Zurich to make Bangalore the best airport in India.
The consortium, which includes Siemens Project Ventures and the Indian construction company Larsen and Toubro, will hold 74 per cent of the share capital. The remaining 26 per cent will be divided between two state authorities.
Initial investments have been put at $230 million, with construction work set to start in October. The new airport is scheduled to open in the middle of 2005.
swissinfo with agencies
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