Mohali airport: AAI floats joint venture company

Mohali: Airport Authority of India (AAI) has started the process to form the board of a joint venture company that would deal with day-to-day affairs of the upcoming international airport project in Mohali.
In a communication to Greater Mohali Area Development
Authority (GMADA), AAI has asked for suggestions with regard to names of persons to be inducted in the board, besides seeking suggestion for the name of the joint venture company to be formed.
According to GMADA sources, AAI has started the process to form the joint venture company (JVC) comprising seven members from Punjab, Haryana and AAI. The seven-member committee to be formed, having representatives from Punjab, Haryana and AAI, would take the decision regarding operations of upcoming international airport from where besides passenger flights, cargo flights would take off.
AAI has engaged Price Waterhouse Coopers to advise it about financial/entity restructuring with respect to the proposed JVC. To speed up the process to complete the ambitious project in time, efforts are now being made to form the JVC at the earliest so that prompt decisions regarding the project can be taken, sources said.
As due to Parliament election, model code of conduct is in force, AAI has written to Election Commission for permission to form the joint venture company, sources added.
09/04/09 Anand Bodh/Times of India

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Categories: Airports Apr 2009, New Apr 2009