The airport would come up as a joint venture with equity participation of a successful bidder holding 76 per cent stake, the Minister told mediapersons after the Bharatiya Janata Party's (BJP) state executive here.

Preparation of the tender would be finalised within a day or two and the project would be floated for global tender. A steering committee with two representatives each from the state government, the Karnataka State Industrial Development Corporation (KSIDC), the Airports Authority of India (AAI) and Ministry of Civil Aviation, will process the tender documents prepared by the consultancy agency, Infrastructure Leasing and Financial Services (ILFS). The project will be entrusted to a consortium, he said.