Saturday, September 29, 2018

GMR, GVK bid for Nagpur airport

Nagpur: Two private infrastructure players — GMR and GVK — have tendered bids for investing in the Nagpur airport. The bids were opened by Mihan India Limited (MIL) on Friday and it has been reliability learnt that GMR has quoted a higher amount than the other.
Six players were qualified to take part in the airport privatization process. These include GVK, GMR, Ideal Road Builders (IRB), Tata Group, PNC Infrastructure and Essel Group. Out of these, IRB had backed off at the initial stage itself. Other companies, except Tatas, took part in most of the pre-bid talks. Finally, only two companies have bid now.
The companies had to quote a percentage of revenue to be shared with MIL, the current operator. It has been learnt that both the participants have quoted a single digit percentage share, even as a higher share was expected to be quoted. Sources said if it is to be compared with the larger airports, the private parties have quoted revenue share ranging from 30% to 35%. A number of conditions were eased at the insistence of the private players.
29/09/18 Shishir Arya/Times of India