DIAL inks Rs 5,400 cr insurance deal

New Delhi: Delhi International Airport Private Limited (DIAL) has signed an insurance deal worth Rs 5,400 crore with a consortium comprising three major insurance companies in India.
The deal will provide insurance cover for upgradation of the existing terminals, construction of new runway and an integrated passenger terminal (T3).
Sources familiar with the deal said, DIAL, a joint venture company comprising of Bangalore-based GMR Group, Airports Authority of India (AAI), Fraport, Malaysian Airport and India Development Fund, is paying Rs 8 crore as premium charges for the insurance cover of its project during the construction period.
“The consortium includes the Oriental Insurance Company, the National Insurance Company and ICICI Lombard. Oriental Insurance is a major stakeholder, insuring two-third of the whole project," the source told SundayET.
In the aviation sector, Oriental Insurance already provides insurance cover for Jet Airways, Air Sahara and Kingfisher.
15/07/07 Aman Dhall & Dheeraj Tiwari/Times of India

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Categories: Airports Jul 2007