Shoppers Stop - Nuance consortium bags GHIAL contract for duty free retail

Shoppers Stop Ltd has announced that the Nuance Group AG and the Company have on April 04, 2007 been awarded the concession to operate retail at Hyderabad International Airport. The JV partners are expecting to earn revenue of upto USD 240 million over the period of seven years. The contract will commence in March 2008, when the new airport is scheduled to open with this concession, Nuance, who has defined India as a key growth market, adds a second high-potential airport to its Indian portfolio.
Hyderabad Airport has awarded the concession to operate retail at both the international and domestic terminals to the consortium of the two Companies. The international retail will be managed by Nuance Group (India) Pvt Ltd, the joint venture Company of The Nuance Group AG and the Company, whereat the Company will handle retail in the domestic part. The two contracts together cover retail space of approximately 28,450 sq ft for a duration of seven years. Over the contract the concession's estimated worth is USD 240 million.
The retail offer in the international terminal will comprise a total of three stores, covering approx. 25,000 sq ft. One of these stores is approx. 12,770 sq ft arrival store. Domestic retail will consist of three stores and a total of approx. 3,100 sq ft.
04/04/07 Equity Bulls

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Categories: Airports Apr 2007, Foreign Apr 2007