GMR may team up with Brazilian construction company Queiroz Galvao for Sao Paulo airport bid

GMR may rope in Brazilian construction giant Queiroz Galvao as a partner to bolster its bid to carry out airport modernization projects at some of Brazil's busiest airports, two people directly familiar with the company's bidding plans said.
Queiroz Galvao is one of the largest privately held construction conglomerates in Brazil and had revenues of over $4 billion in 2010 as per details available in the company's annual report. The company also has operations in the areas of real estate development and oil and gas exploration.
GMR may finally bid only for the Guarulhos airport expansion project at Sao Paulo as it is the most lucrative and busiest airport in Brazil, according to one of the people quoted above. The projected capex for the airport modernization project at Guarulhos alone could be close to $8 billion, according to the same person. Brazil's government will also auction off concessions at Viracopos airport in Sao Paulo and the airport in the capital city of Brasilia to bidders selected through an auction process.
GMR has also been in talks with other large Latin American construction companies and will look to finalize a partner within the next two weeks.
04/01/12 Mohit Bhalla/Economic Times

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Categories: airports Jan 2012, Foreign Jan 2012, New Jan 2012