"The investor`s name is GVK," he said here on Thursday when inspecting the island`s Kuta beach following its story on the Time magazine recently.
He said the investor had even sent around 30 experts to conduct a survey and a feasibility study to determine the best location for the project.
The team of engineers were given around three months to determine the location.
"Based on costs for developing airports in other places Rp1.5 to Rp2 trillion would be needed to build the airport in Buleleng," he said.
The minister said the the proposal for the project had been known and approved by President Susilo Bambang Yudhoyono. "He even supports the plan as a second gate in Bali," he said.
The airport in the northern part of the island is expected to be able to help ease the impact of increasing visitors to the island.
At present up to 7,000 visitors come to Bali everyday which is above the normal capacity of 4,500 a day and as a result traffic jams always occur around tourist areas in the southern part of the island.
"We hope with the new airport development will spread across the island. Bali`s northern part is expected to become a tourist center in the next 15 years," he said.
Jero Wacik said the construction of the new airport is ready to be realized, adding share distribution however is now still being negotiated between the government and the investor.
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