The Hindu : Bharti-Changi JV to bid for Delhi, Mumbai airports

Online edition of India's National Newspaper
Tuesday, Mar 23, 2004

Business

Business

Bharti-Changi JV to bid for Delhi, Mumbai airports

NEW DELHI, MARCH 22. Sunil Mittal owned Bharti group has formed a consortium with Changi Airport of Singapore (a 50:50 joint venture) to bid for the development and management of Delhi and Mumbai airports.

"The consortium, will work towards the successful biding and picking up of equity in the airport privatisation initiative undertaken by the Government of India," Bharti Enterprises said here today.

Commenting on the development, Mr. Sunil Mittal said "having successfully commissioned telecom projects across India and linking India with Singapore through i2i undersea cable, we have developed expertise in executing national and international infrastructure projects.

"Singapore Changi airport is internationally recognised as one of the best-managed airports in the world. This consortium will bring Changi's international expertise and our experience for a dream project in India," Mr. Mittal said.

The Airports Authority of India (AAI) had earlier proposed to restructure and modernise the Delhi and Mumbai airports through the formation of separate joint venture companies in which AAI and other public sector entities would together hold 26 per cent equity while the remaining equity would be held by private sector partners.

The joint venture companies will have a long-term concession to operate the respective airports, AAI had said.

According to Bharti Enterprises, the Changi and Bharti consortium would be an ideal combination to develop and manage the India airports.

Changi handled about 25 million passenger traffic in 2003. It has 70 airlines operating more than 3,250 weekly scheduled flights to 152 destinations in 51 countries.

Boon Swan Foo, Chairman of Singapore Changi Airport Enterprise, said, "Over the last few months, we have been looking for partners for this major initiative. We are pleased to partner Bharti, a top notch India corporate, to complement our international approach to airport management and operations". "We both share the culture of excellence and a common vision of a world-class airport," he added.

Singapore Changi Airport is owned and managed by the Civil Aviation Authority of Singapore.

The consortium between the Bharti group and Changi Airport has been named as Bharti Changi Airport Ltd.

PTI

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