Friday, June 16, 2006

IL&FS eyes Mumbai airport stake

Mumbai: Infrastructure Leasing and Financial Services Limited (IL&FS) is likely to make its maiden foray into airport financing with a 6-7% equity participation in the Mumbai airport project.
“We are planning to participate in the modernisation of Mumbai and Delhi airports, the former to begin with. The details would be chalked out after the viability of the project is appraised,” sources said.
IL&FS is currently into transport infrastructure like roads and ports. Mumbai International Airport Pvt Ltd is a joint venture in which the GVK-South Africa combine has 74% stake and Airports Authority of India holds the residual 26%. The consortium for implementing the Mumbai Airport project comprises GVK Ind, Airports Company South Africa and the Bidvest Group Ltd.
16/06/06 Manojit Saha/Financial Express
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