Delhi airport to infuse Rs 4K cr fresh equity

New Delhi: All stakeholders in the GMR-backed Delhi International Airport (P) Ltd (DIAL) will pump in additional equity of around Rs 4,000 crore in the project over the next three to four years. On Monday, aviation minister Praful Patel met GMR Group chairman G M Rao on Monday to discuss the funding model for the Rs 8,900-crore IGI Airport modernisation plan.
The additional funds would be raised in proportion to the holdings of different players in DIAL — GMR (50.1%), AAI (26%), Fraport and Malaysian Airports (10% each) and IDFC (3.9%). The fresh amount could also be raised through a mix of equity and optionally convertible debentures, keeping the debt amount on the lower side. In the meeting, it was also agreed that DIAL would not charge any deposit from bidders, who want to develop hotels in its proposed 45-acre hospitality district.
05/02/08 Saurabh Sinha/Times of india

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Categories: airports Feb 2008