The Hindu Business Line : Videocon to bid for Navi Mumbai airport: Dhoot

New Delhi, Oct. 31 The Videocon Group plans to bid for the new greenfield airport coming up at Navi Mumbai, the Chairman Mr Venugopal N. Dhoot said on Wednesday.

Speaking to newspersons on the sidelines of an Assocham organised conference on ‘Aerotroplis: Airport cities’, Mr Dhoot said that the Group had shortlisted the foreign collaborator for the project. The foreign partner is likely to be given a 24 per cent stake in the project, Mr Dhoot said although he declined to give out the identity of the foreign partner. A special purpose vehicle, Videocon Aviation Ltd, would be set up for the project with an initial investment of Rs 100 crore.

Earlier addressing the conference, the Minister for Civil Aviation, Mr Praful Patel, said that the Government would announce a policy for the development of airports by next year. The Minister said that the Government is also formulating a policy for the development of merchant airports, which would be airports built by entrepreneurs. A Inter Ministerial Group which was considering the issue has suggested broad guidelines for State governments, private partners and Airports Authority of India which has been sent to the Committee on Infrastructure and needs to be cleared by the Union Cabinet before it can be implemented.

More Stories on : Diversification | Infrastructure | Airlines | Maharashtra

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page