GVK looks beyond borders, to bid for overseas airports

GVK Power and Infrastructure, one of the largest infrastructure players in India, plans to play big in the international airports arena after facing limited playground in the domestic market.
For the first time the company is planning to bid for the major international airports that may happen in the Asian continental region. “We are already evaluating one airport close to India. However, we will not be able to disclose the name. Besides, there are proposals for other projects that need to be worked out,” Issac George, chief financial officer of GVK Power and Infrastructure, said.
He said the company has a limited playground in the Indian market as only four international airports have been privatised with two held by GVK and the other two by GMR.
The company has stated that fund-raising would not be an issue. GVK on Wednesday was also short-listed along with GMR, L&T and Gammon by the Uttar Pradesh government for the development of Kushinagar international airport and have been sent a request for the proposal. The company in the domestic arena is planning to further raise its stake in the Mumbai international airport to 51 per cent if the South African partner Bidvest Group sells its stake.Besides, the company is also open to increasing its stake in the Bengaluru international airport.
04/02/10 Vikas Srivastav/mydigitalfc.com

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Categories: Airports Feb 2010, Foreign Feb 2010, New Feb 2010