Kolkata airport to be privatized

17 Feb 2023 CW Team

The decision by the federal government to privatise Kolkata's Netaji Subhas Chandra Bose International Airport is a significant move. The procedure to finalise the terms and conditions for the bidding is currently under way. The Civil Aviation Ministry has picked a list of 25 airports throughout the nation.

Several significant airports, including Varanasi and Chennai, as well as more modest ones, like Indore, Jabalpur, and Kushinagar, are on the list of those scheduled for privatisation during the second phase of airport privatisation. The ministry anticipates receiving an upfront payment of 100,000 million.

Civil aviation minister Jyotiraditya Scindia had stated regarding the privatisation process in December, "our aim is to lease out the assets for a period of time and gain cash flow, which will then be spent to build up new airports in tier 2 and tier 3 towns.

By two months, the full project and the Cabinet note should be completed and ready for submission to the Cabinet for approval.

The government privatised six airports in 2019 (Lucknow, Ahmedabad, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram), and industrialist Gautam Adani's Adani Group won the bidding for all six airports. Afterwards, the gang seized control of the Mumbai International Airport from GVK as well.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..