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ONGC bids for fuel facility at new Bangalore airport
Richa Mishra
Ashwini Phadnis
New Delhi
,
Dec. 14
ONGC is set to expand its wings into the aviation sector. The company has tied up with a French oil major to bid for the aviation fuel facility coming up at the new greenfield airport in Bangalore.
Sources told Business Line that ONGC, through a brand extension of its retail brand OVaL (ONGC Value), OVal Air, has put in its bid for aviation fuel facility. The last date for the bid to be submitted is December 15.
Indications are that the French firm is Total. This will be the first project that OVaL Air has participated in, sources said, adding that it was also hoping to bid for similar facilities at other airports around the country.
Future strategies: As regards the future strategies and investment plans of OVaL Air, the official said that the company would work out its future strategies for the Indian market depending on the projects it gets.
Under ONGC Value the company has already rolled out its first retail outlet in Mangalore this year and has plans of brand extension by going into ATF and cooking gas (LPG).
In October this year, Bangalore International Airport Ltd (BIAL) began the process of selecting its key commercial partners in airport operations.
The company, which started construction at the Devanahalli site in July, floated tenders to select concessionaires who would operate the aviation fuel facility, ground handling, cargo terminal at the airport, besides flight catering and aircraft maintenance.
The Rs 1,334-crore project would have 25 per cent as equity from the Siemens-L&T-Unique Zurich Airport combine and AAI-KSIIDC, 25 per cent as repayable State loan, and the rest as debt.
The first tender issued by BIAL was to invite bids from international and domestic fuel companies for the all-important aviation fuel facility on BOOT basis.
BIAL said that it would follow the open access model, which means that any supplier/marketer of jet fuel has the right to access the fuel facility against a fixed throughput fee.
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