Karnataka industries and commerce department principal secretary N Viswanathan told The Financial Express that these companies have shown interest to pick up a controlling stake in the proposed venture. In addition to these domestic companies, there are a couple of foreign firms are also in the race, he added.

However, he declined to name the foreign players. Karnataka State Industries and Investment Development Corporation (KSIIDC) and Airports Authority of India would have 13 per cent stake each in the venture, while the balance would go the joint venture partner.

It is learnt that the Hinduja group and L&T's construction wing have already submitted their `expressions of interest' bids. However, a final picture would be available only after June 28, the last day for submitting the bids to the Infrastructure Leasing& Financial Services Ltd (IL&FS).

Incidentally, Hindujas were the second largest bidders when the state government decided to construct the airport on build-own-operate-transfer basis with a total cost of Rs 1,500 crore. Due to some delay, the largest bidder led by a Tata consortium had pulled out of the project.

Recently a team of Karnataka state officials led by Viswanathan, KSIIDC chairman and managing director BK Das and executive director RN Chawhan had visited airports in Hong Kong, Singapore and Malaysia in order to study the financial viability of the projects there.

``The one-week tour to these locations was interesting and the facilities available with these airports are one of the reasons to attract foreign investments in these countries. We are also aiming to construct our airport on these lines though our investment will be less,'' he added.

Viswanathan said the availability of low-cost labour, land and construction materials like marble in the country would make the Bangalore airporteconomically viable. ``We are expecting a three million passengers per annum in the next three years,'' he said.

Governments in Hong Kong and Singapore constructed their projects with an aim to utilise the airport for the next 50-100 years. But the Devanahally international airport will not attract that much investments. All formalities in spotting the partner for the joint venture multi-crore project was expected to be completed by July end, he said.

The state government had already given guarantee to KSIIDC for raising Rs 150 crore to pay compensation to those whose lands had been acquired for the project.

The state government would finalise global tenders called for establishing an airport by this July and set in motion the process for commencing work by August. Karnataka decided to go in for fresh global tenders after the Tata-led Singapore consortium pulled out of the project, quoting inordinate delay by the centre in clearing it.