Parsvnath to bid airport management and modernization projects

New Delhi: New Delhi-based real estate developer, Parsvnath Developers Ltd is joining the ranks of developers bidding for airport management and modernization projects and is in advanced stage of talks with an international airport operator to jointly bid for projects in India. Parsvnath is looking at forming a joint venture with the airport operator. The company would manage the real estate, with the airport operator bringing in its expertise in airport design and development. “We will tie up with a big player,” Jain said, adding that he cannot name the player till the deal is finalized.
Leading real estate developers such as DLF Ltd and Unitech Ltd have already said that they plan to bid for airport modernization projects.
While DLF has tied up with Fraport AG Frankfurt Airport Services Worldwide, owner and manager of the Frankfurt Airport, to bid for projects, Unitech is in talks with Aéroports de Paris, the French airport operator which manages most of the important airports in France. The government is in the process of modernizing and redeveloping 35 airports to ease the traffic congestion in the existing airports.
27/11/07 Shabana Hussain/Rasul Bailay/Livemint

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Categories: Airports Nov 2007, New Nov 2007