After participating in the bidding for the second airport in Goa, the Airports Authority of India (AAI) is contemplating bidding for the Greater Noida airport project entailing an investment of ₹16,000 crore. However, DIAL is opposed to the idea. DIAL is a special purpose vehicle, with the GMR group being the lead consortium partner with 64 percent stake, AAI holding 26 percent, and Fraport AG 10 percent. GMR has the right of first refusal (RoFR) for any airport that is built within an aerial radius of 150-km of the existing airport in Delhi. As per RoFR terms, in case the GMR-led joint venture fails to get the second airport in the competitive bidding, it will be allowed to match the first ranked bid, provided it is within the range of 10 percent. Aviation sector experts are in favor of more entities participating in the bid for the Greater Noida airport and support AAI placing its bid alongside GMR group. AAI is managing many airports which are not profitable and in case it gets the Greater Noida airport, it will help it cross-subsidize less profitable or loss-making airports, said Partner, PwC, Dhiraj Mathur.
📅Published on:
17 October 2019
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