Thursday, February 22, 2007

Changi Airports Int'l and Tata to make joint bids for Indian projects

CAI, the investment arm of Changi Airport, has signed an agreement with the Tata group to make a joint bid for the operation of Kolkatta and Chennai Airports.
Its air passenger traffic is projected to grow 20 percent annually over the next four years.
Chow Kok Fong, CEO, CAI, said: "In the case of India, there is a very large middle class. This is the class that can afford air travel. Despite the large size of the middle class, when you talk in terms of what we call air travel intensity per capita, that means the number of miles flown on average by each person in the country, Chinese is 0.1 percent or one thousandth that of Singapore; India is half of that."
But airport infrastructure has not been able to keep up with demand so India embarked on an airport privatisation programme two years ago.
To get a piece of this lucrative airport business, CAl has signed a memorandum of understanding with the Tata Group to set up a joint venture company to bid for the investments and operations of Chennai and Kolkatta Airports.
21/02/07 Asha Popatlal/Channel News Asia, Singapore
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