BAPL to rejig top management

CEO Subrata Paul, who has been at forefront of greenfield airport project at Andal, is set to step down in few weeks

Bengal Aerotropolis Projects Ltd (BAPL), in which Singapore's Changi Airport holds a 26 per cent stake, is set to rejig its top management ahead of the launch of its new airport at Andal in the Barddhaman district later this year.

BAPL chief executive officer Subrata Paul, who has been at the forefront of the execution of the project over the last few years, is set to step down in a few weeks.

"Subrata Paul will possibly be replaced by someone who is an expert in the aviation sector. Although it is yet to be finalised, he might stay back in the company, but in a different role. Also, there will be some more new faces from the aviation sector in the top management," a person close to the development said, requesting anonymity.   

Paul, an allumni of Indian Institute of Technology (IIT)-Kahargpur and London Business School, had joined BAPL in February, 2009. He, did not respond to calls made by Business Standard.

Also, sources indicated a rejig in top management can also be a prelude to possible change in promoter-holding. Changi Airports is expected to increase its stake in the coming airport city project in West Bengal to about 51 per cent. Changi had earlier briefed the West Bengal government about its interest in increasing its stake in the project.

Other promoters of BAPL include Infrastructure Leasing and Financial Services Ltd (IL&FS), Pragati Social Infrastructure Development (PSIDL), Pragati 47 Development, Lend Lease Co (India) and Citystar Infrastructures.

West Bengal Industrial Development Corp (WBIDC) had acquired and handed over 1,818 acres to BAPL for the project during the Left Front government. The developers failed to meet the October 2012 deadline to complete the first phase of the work that includes airport and allied infrastructure with an investment of about Rs 600 crore. According BAPL, the physical construction of the airport is on the verge of completion.

BAPL is in talks with all the major domestic airline operators such as Air India, Jet Airways, Indigo and GoAir to make the airport operational.

Although the West Bengal government had earlier announced inauguration of the airport by mid-April, BAPL officials indicated the airport is expected to be operational by the first half of 2013.

After the completion of the first phase, BAPL has plans to come out with an airport city which will have an information technology park, hospitals and a residential complex. The proposed airport city is expected to draw an estimated investment of Rs 10,000 crore.