Nagarjuna’s next to seek foreign partners in airport development

Nagarjuna Construction Co. Ltd (NCC), the Hyderabad-based infrastructure major with interests in transportation, real estate, irrigation and power, will enter into an alliance with an international airport operator to bid for the development and modernization of the Chennai airport.
“We are talking to two-three international airport operators and had a series of discussions. We will form a consortium with one of them and that consortium will then bid for the project,” said Y.D. Murthy, senior vice-president, finance, Nagarjuna. He declined to name the operators.
Most Indian companies interested in airport development are tying up with international firms with airport expertise to bid for upcoming projects including the new airport at Navi Mumbai cleared by the Union cabinet last week. For example, DLF Ltd has tied up with Germany’s Fraport, while the Tatas are already working with Singapore’s Changi Airport International.
NCC also plans to bid for the 35 tier-II city airports across the country which are up for modernization.
NCC will add to the competition as GVK Power & Infrastructure Ltd, another Hyderabad-based company, has already made its intentions clear to bid for them, as reported by Mint on 29 May.
05/06/07 Utpal Bhaskar & C.R. Sukumar/Livemint

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Categories: Airports Jun 2007, Foreign Jun 2007, New Jun 2007