The State government has formed a special purpose vehicle, the Bhogapuram International Airport Company Limited (BIACL), totally owned by the government to speed up the airport project.
A GO was issued to this effect on Wednesday. The authorised share capital of the company is Rs. 5 crore divided into Rs. 50 lakh equity shares of Rs. 10 each. While a board of directors was formed, day-to-day administration will be done by a CEO to be appointed by government.
The BIACL was formed following recommendations made by the VC and MD of Infrastructure Corporation of AP who was designated as project proponent for developing four Greenfield airports at Bhogapuram, Kuppam, Oravakallu and Dagadarthi. Directors of the BIACL are Energy Secretary of I and I Department; Principal Secretary of Transport and Roads and Buildings; Principal Secretary of Revenue; Finance Secretary, VD and MD of INCAP, VD and MD of APIIC and Collector of Vizianagaram.
HRD Minister Ganta Srinivasa Rao said people’s sentiments would be honoured while acquiring land for the airport.
