NEW DELHI: Following the signing of agreements between the Airports Authority of India and the GMR and GVK groups to set up companies for the modernisation of Delhi and Mumbai airports, Civil Aviation Minister Praful Patel said the tripartite committee would consider all issues of the employees' future and modernisation of other airports. The committee comprises representatives of employees, the AAI and the Ministry.

The Left parties, which opposed the process of modernisation, have been demanding that the tripartite panel consider modernisation of the two metro airports as well.

Mr. Patel refused to comment on the case filed by Anil Ambani's Reliance Airport Developers against the modernisation process but said the Delhi High Court had permitted the Government to proceed with the signing of the agreements.

Investment plans

G.V. Krishna Reddy, chairman and managing director of the GVK group, who signed the agreement for modernisation of the Mumbai airport, said his company planned to invest Rs. 5,000 crore to Rs. 7,000 crore over five years.

For the Delhi airport, the GMR-led consortium comprises GMR Infrastructure, GMR Energy, GVL Investments, Fraport AG Airport Services Worldwide, Malaysia Airports Sdn Berhad and India Development Fund.

The consortium for Mumbai airport comprises GVK Ind., Airports Company South Africa and The Big Vest Group Ltd. While the AAI has 26 per cent holding in the two newly-formed ventures, GMR and GVK have 74 per cent stake each.

Other agreements are to be signed by the joint venture companies in the next few months, including the State support agreement, sources said.

The Operation, Management and Development Agreement (OMDA), which was signed on Tuesday, is mother document under which the AAI has granted a joint venture company the right to operate, maintain, develop, design, construct, upgrade, modernise, finance and manage the airport.

Mandatory projects

The mandatory projects to be completed by 2010 are a new parallel runway, parallel taxiways, development of international and domestic terminals, car parks and roads to the airport complexes in the Delhi airport.

At the Mumbai airport, new high-speed exit taxiways, international cargo terminal, domestic apron expansion and new domestic terminal car park are to be completed.

The companies would operate, manage and develop the two airports for 30 years with an option of extension of the term for an additional 30 years.

The private consortia are required to submit the initial development plan and a master plan for 20 years, besides maintaining service quality.

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