BIACL to raise Rs 1,500cr from banks for Bhogapuram airport development

Hyderabad, Oct 8: Brushing aside protests by farmers of Bhogapuram, Andhra Pradesh government has given the clearance to Bhogapuram International Airport Corporation Limited (BIACL) to submit a proposal to raise Rs 1,500 crore through bank loans for pre-development activities, reports said. The government is determined to built a greenfield international airport at Bhogapuram in Vizianagaram. For this it has been trying to pool the agriculture lands in and around the village. However, the farmers have been protesting against the government move and are refusing to part with their farm lands. The government, meanwhile, appointed Secretary of the energy department Ajay Jain as the chairman of the BIACL. It also gave permission to set up a functional office of BIACL in Visakhapatnam.