Date:26/11/2004 URL: http://www.thehindubusinessline.com/2004/11/26/stories/2004112601390900.htm

Back Bangalore airport: Siemens for signing pact by Dec

Our Bureau

Mumbai , Nov. 25

SIEMENS Ltd, which is part of the consortium that has bid for the Bangalore international airport, has said that the company may have to review the project if the contract is not signed by December end this year.

Matters would get difficult if it is not signed by the end of this year, said Mr J. Schubert, Managing Director, Siemens Ltd, at a news conference here today.

Siemens leads a consortium that holds 74 per cent equity in the project. The others in the group are Zurich International and Larsen & Toubro. Rest of the stake would be held equally by the Karnataka Government and the Airports Authority of India.

Matters were delayed with Karnataka having a new Government in power this year, which led to a delay in the financial closure.

The project has already been delayed by two years now.