The Hindu Business Line : Bharti Changi submits EoI for Delhi, Mumbai airports revamp

THE proposed restructuring of Delhi and Mumbai airports got a boost on Monday with Bharti Changi Airport Ltd announcing that it has submitted the Expression of Interest (EoI) for the development and management of the two metro airports.

In a statement, the group has said that the Bharti Changi consortium is a joint venture between Bharti Enterprises Ltd and Changi Airport Managers & Partners (Singapore) Pte Ltd (CHAMPS). The statement adds that while Bharti Enterprises Ltd will hold 54 per cent equity, CHAMPS is to hold 20 per cent and Airports Authority of India (AAI) the remaining.

"The submission of the EoI takes our vision of building a world class airport in India a step further," said the Joint Managing Director, Bharti Enterprises Ltd, Mr Rajan Bharti Mittal.

The Government has fixed July 20 as the last day for parties interested in submitting EoIs.

While several large entities are said to be keen to participate in the modernisation and restructuring process, less than five groups have actually announced their consortiums till date. These include the GMR Group, which has tied up with Fraport AG Frankfurt Airport Services Worldwide, the owner and manager of Frankfurt airport, and the India Development Fund to bid for the restructuring and modernisation of Delhi and Mumbai airports.

The Government has already capped the foreign direct investment (FDI) limit for restructuring and modernisation of the Delhi and Mumbai airports at 49 per cent.

In late June, while approving the FDI cap at 49 per cent, the four-member Empowered Group of Ministers also decided that AAI and other Government public sector undertakings would hold 26 per cent equity, while the remaining 25 per cent equity will be held by Indian companies.

Besides, the empowered group decided that Indian scheduled airlines and their group entities will be allowed to have a maximum equity of 10 per cent in the joint venture.