Tatas plan airport modernisation foray

In keeping with its business expansion mode, the Tata group is set to enter the business of airport modernisation. Partnering the Tatas could be the Singapore-based Changi Airport International, which has already made bids in the past to get involved in the development of airport infrastructure in the country.
Sources told Business Line that the Tata group is expected to take a majority stake in the venture and an official announcement is expected as early as next week.
The Tata group's proposed foray into the aviation sector would come after a considerable time since it made an abortive bid more than a decade ago to enter the aviation business in India in partnership with Singapore Airlines. Since then, the group has steered clear of this sector, except for picking up a small equity stake in SpiceJet recently. The Tatas were not involved with the modernisation of Delhi and Mumbai airports that saw bids from leading Indian corporate groups such as GMR, GVK, Zee, Reliance Anil Ambani Group and DS Constructions.
Changi Airport International has actively been searching for a suitable Indian partner for some time now.
17/02/07 Moneycontrol.com

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Categories: airports feb 2007, New feb 2007