GMR to lock horns with Fraport again

New Delhi: A month after beating global giants like Fraport (that runs Frankfurt Airport) for building the new Istanbul Airport, the GMR Group is poised for yet another contest with the German giant. This time for the Greater Noida Airport.
The DLF Group had earlier tied up with Fraport to develop airports in India and has now stated that it will bid for the Greater Noida Airport when the process will be set in motion in a few months. Incidentally, Fraport is GMR's partner for modernising the IGI Airport.
The GMR Group says it will bid for the Noida Airport and is yet to finalise the partners. This airport project is expected to cost Rs 3,505 crore and the private party will have to raise 64% funds while the balance will be shared equally by UP and other government agencies.
Fraport and GMR were locked in an intense battle last month for building the Sabiha Gokcen International Airport (SGA) in Istanbul, Turkey. The last round of bidding saw four players in the race — DLF, Fraport, Chicago and Venice airports. GMR Group finally won the bid to build the 10-million capacity terminal within 30 months for a fee of $ 2.7 billion payable over 20 years.
06/08/07 Saurabh Sinha/Times of India

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Categories: Airports Aug 2007, New Aug 2007