The Hindu Business Line : Changi seeks to bid for airport modernisation

Second try
Jt venture will also look at non-metro airports
Local partner will have majority stake
Changi was part of Bharti consortium previously

New Delhi , Dec 8

Changi Airports International (CAI), the owner-operator of Singapore's Changi airport, is all set to make another attempt for participating in the development of airports in India.

CAI is set to announce a tie-up with a listed Indian real estate and infrastructure development company to form a joint venture company for participating in the modernisation of Chennai and Kolkata airports and other greenfield and non-metro airports.

"We are in final discussion with the Indian partner and expect to make an announcement towards the end of this month or early next month," Mr Ng Tim Peng, Vice-President (India) of CAI, told Business Line.

"The announcement will be made after an MoU is firmed up. At this moment, we cannot reveal the name of the Indian partner with whom we plan to tie up.''

The MoU will spell out how the joint venture partners will bid, the bid team and the strategy that is to be adopted for bidding. It is expected to specify the liability of each partner in case the project does not fructify.

The local partner will have a majority stake in the joint venture, which would be willing to take in more partners if they bring value to the project, CAI officials said.

Earlier, Changi was a part of the Bharti consortium that withdrew its bid from the proposed modernisation of Delhi and Mumbai airports.

CAI has used the time since withdrawing from the Bharti bid to better understand the Indian market, a process that has involved several initiatives including holding a three-month workshop for the GVK Group which has been awarded the contract for modernising Mumbai airport.

Besides, several State Governments, including those of Maharashtra and Punjab, have approached CAI on the possibility of setting up airports there.

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