Reliance Infra To Exit Non Metro Airport Projects

Reliance Infrastructure is planning to exit its non-metro development projects and is looking for buyer for its unit Reliance Airport Developers Private Limited, according to ET.
The company is planning to shift its focus to larger projects citing lower returns than estimated as the primary reason for the exit.
The company also planned to rope in PE player for its airport business but could not succeed.
Incorporated in 2004, Reliance Airport Developers is a subsidiary of Reliance Infrastructure, develops and operate airports and fuel growth in the aviation sector.
RADPL operates five airports in Maharashtra - Nanded, Latur, Baramati, Yavatmal and Osmanabad, and is currently planning for a Greenfield airport in Madhya Pradesh.
In 2010, the company acquired the lease rights to develop these airports for 95 years from the Maharashtra government for R63 Cr. It has since invested about R10 Cr in each of the airport for u pgradation.
07/09/12 Sushil Surana/Deal Curry

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Categories: airports Sep 2012