GE seeks partnerships to enter airport development biz in India

India’s booming aviation business has attracted the attention of General Electric Co., which wants to enter the airport development business in the country. The conglomerate has approached the GMR Group, which is developing the new airports at Delhi and Hyderabad; the Maharashtra Industrial Development Corp. (MIDC), which is developing airports in smaller cities in the state; and Maharashtra Airport Development Co. Ltd (MADC), which is developing the cargo hub at Nagpur, for possible partnerships in this context. GE runs one of the world’s largest aircraft-leasing operations through GE Commercial Aviation Services (Gecas), and is also in the business of making and maintaining aircraft engines.
GE has already put together a small team in India that is scouting for airport development opportunities. Harshawardhan M. Gajbhiye, a senior vice-president at MADC, confirmed that GE had expressed interest in the proposed cargo hub at Nagpur.
Kamlakara Rao Yechuri, associate vice-president (strategic finance), GMR Group, which is developing the Delhi and Hyderabad airports, said the firm had received an enquiry from GE. “Initial interest has been received by us from GE for airport development,” he added.
Rajiv Jalota, chief executive officer of MIDC, said it too had received an enquiry from GE. “The airports we plan to develop include those in the tech city of Pune, Sindhudurg, Latur, Amravati, Nanded, Yevatmal and Osmanabad,” he added.
04/05/07 Yassir A. Pitalwalla/Livemint

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Categories: Airports May 2007, Foreign May 2007, New May 2007