Monday, June 19, 2006

Govt mulls JV for modernisation of Kolkata, Chennai airports

New Delhi: In a proposal that could annoy its Left supporters, the Centre is considering the joint venture route for modernising the Kolkata and Chennai airports, where the Airports Authority of India would be a minority shareholder, with a private consortium as the lead partner.
Further, the AAI may get only 10 per cent of gross revenue share from Kolkata and Chennai as against 45.99 per cent in Delhi and 38.7 per cent in Mumbai.
"The equity infusion by AAI for Chennai and Kolkata joint venture companies has been estimated as approximately 50 per cent of the equity investment in case of Delhi and Mumbai. The equity infusion by AAI during 2008-09 to 2013-14 will be Rs 150 crore," official sources said.
The equity share of private players together with borrowings would be about Rs 5,550 crore, sources said, indicating that AAI could retain only a minority stake in the two joint ventures.
18/06/06 The Hindu
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