Mumbai: The government has relaxed the rules to allow airlines or their associates to hold 26 per cent stake in the special purpose vehicle (SPV) that will develop the Navi Mumbai airport.
The move gives partial relief to the Tata group whose realty and infrastructure arm is keen to bid for the airport.
However, the issue is far from over as another amendment to the bid conditions bars such companies from holding a board position on the SPV.
Tata Realty and Infrastructure (TRIL) is likely to seek a clarification from the government on the issue.
The clause was added to restrict the company managing the airport from favouring any airline.
The City Industrial and Development Corporation (CIDCO) had issued the request for qualification (RFQ) for the airport in February.
11/08/14 Business Standard
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The move gives partial relief to the Tata group whose realty and infrastructure arm is keen to bid for the airport.
However, the issue is far from over as another amendment to the bid conditions bars such companies from holding a board position on the SPV.
Tata Realty and Infrastructure (TRIL) is likely to seek a clarification from the government on the issue.
The clause was added to restrict the company managing the airport from favouring any airline.
The City Industrial and Development Corporation (CIDCO) had issued the request for qualification (RFQ) for the airport in February.
11/08/14 Business Standard
