Thiruvananthapuram: With chief minister Pinarayi Vijayan asserting that state government is firm on obtaining rights to manage the Trivandrum International Airport, it is probable that the state will exercise the ‘right of first refusal’ to win the bid if needed.
Right of first refusal is a contractual right, but not obligation, to enter into a business transaction with a person or company before anyone else can.
The chief minister made it clear that the state government will push forward against all odds for acquiring authority over the airport, while inaugurating the LDF convention against privatization of airport held on Tuesday.
“We were left with no choice but to participate in the bid as the central government had ignored our requests and proceeded with the bidding. The state government informed the authorities that while we are okay to hand over the land to airport authority, we would not do the same to any third party. The state government has publically expressed willingness to take over the airport and we have previous experience of handing airports via CIAL,” he said.
Apart from Kerala state industrial development corporation (KSIDC), which is the parent company of the newly formed Trivandrum International Airport Limited, GMR and Adani Group are the two other bidders for Trivandrum airport.
According to sources, the state government is confident in winning the bid and in case, another bidder quotes for a higher amount, KSIDC can exercise the option for right to first refusal so that they can submit a revised bid by quoting higher amount.
21/02/19 Times of India
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Right of first refusal is a contractual right, but not obligation, to enter into a business transaction with a person or company before anyone else can.
The chief minister made it clear that the state government will push forward against all odds for acquiring authority over the airport, while inaugurating the LDF convention against privatization of airport held on Tuesday.
“We were left with no choice but to participate in the bid as the central government had ignored our requests and proceeded with the bidding. The state government informed the authorities that while we are okay to hand over the land to airport authority, we would not do the same to any third party. The state government has publically expressed willingness to take over the airport and we have previous experience of handing airports via CIAL,” he said.
Apart from Kerala state industrial development corporation (KSIDC), which is the parent company of the newly formed Trivandrum International Airport Limited, GMR and Adani Group are the two other bidders for Trivandrum airport.
According to sources, the state government is confident in winning the bid and in case, another bidder quotes for a higher amount, KSIDC can exercise the option for right to first refusal so that they can submit a revised bid by quoting higher amount.
21/02/19 Times of India
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