The Hindu Business Line : GoM on airports revamp to finalise transaction document soon

The meeting is expected to consider the transaction document based on which the eight joint venture partners, which are in the fray for the two airports, will submit their technical and financial bids.

The meeting comes days after the expiry of the last date for parties interested in participating in the restructuring process to finalise their joint venture partners. The eight entities have till June 24 to submit bids and the Government hopes to name the successful bidder by August-September.

The four-member e-GoM team is headed by the Defence Minister, Mr Pranab Mukherejee, and includes the Ministers for Finance and Civil Aviation.

The Government had extended the last date for finalisation of joint venture partners till June 3. The extension was granted as the bidders had sought several clarifications and the authorities could not respond to them immediately. A change in joint venture partners will be allowed only if the lead partners in the consortium remain the same.

Official sources told Business Line that the extension till June 3 would not affect the earlier time-line set for completion of the project. "We are on track and will announce the winners for the two airports by August-September. The project in Delhi will be completed in time for the Commonwealth games that the city will host in 2010," a senior Government official said.

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