Indonesian airport operator PT Angkasa Pura has reduced the cost to renovate Ngurah Rai International Airport in Bali by 16%.
The airport operator has taken the decision to slash the original cost of IDR2.3tn ($255m) to IDR1.9tn ($212.8mn) after the State Development Finance Comptroller completed its analysis and verification of the airport expansion.
The reduction was possible by making changes in the fuel depot construction project, which was estimated to cost IDR330bn ($36.96m), according to The Jakarta Post.
The renovation, which will start in October and be complete in September 2013, will expand the domestic and international terminals from 85,000m² to 190,000m².
The new terminals are expected to handle 20 million passengers per year upon completion.
Angkasa Pura will take a IDR1.25tn ($140m) loan from state banks while the remaining IDR694bn ($77.7m) will be contributed by the operator for the expansion project.