Gammon India signs MoU for Chennai Airport project

Gammon India Ltd has announced that Gammon Infrastructure Projects Ltd (Gammon), a subsidiary of the Company and Macquarie, a global leader in infrastructure acquisition, funding and management, have formed an exclusive alliance to bid for the grant of rights for the development, operation and management of Chennai Airport, which is the next expected privatization opportunity in the Indian airports sector.
According to a Memorandum of Understanding (MoU) signed recently, Macquarie and Gammon will hold equal equity stakes in the project. The consortium may also look to tie up with a leading airport operator.
The stock was trading at Rs.395.05, up by Rs.1.70 or 0.43%. The stock hit an intraday high of Rs.406 and low of Rs.395. The total traded quantity was 26363 compared to 2 week average of 91043.
21/05/07 Equity Bulls

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Categories: Airports May 2007, New May 2007