Infrastructure company, Adani Group, has made a splash into the airports business by emerging the highest bidder for five of the six non-metro airports run by the Airports Authority of India (AAI) being privatised by the Central Government.
Adani Group placed the highest price bids for Ahmedabad, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports, when bids were opened today, sources said.
Bid for the Guwahati airport could not be opened due to a stay granted by the Guwahati High Court against the privatisation process, as the person said, asking not to be named because the bid results have not been made public yet.
The AAI has sought bids for the operation and management of existing airport assets as well as their upgradation and development of additional air-side terminals, city-side and land-side infrastructure for 50 years for Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports under a single stage bidding process.
Winning bid is decided on the basis of the highest monthly per-passenger fee that the concessionaire will offer to the AAI. As this is a departure from the revenue-sharing model that the AAI had adopted in the existing privatized airports such as Delhi, Mumbai and Bengaluru.
Adani Group pipped other contenders such as GMR Group, National Investment and Infrastructure Fund (NIIF), Fairfax India Holdings Corporation, Australia’s AMP Capital, PNC Infratech Ltd and Kerala State Industrial Development Corporation Ltd (KSIDC) to become the highest bidder for the airport contracts.
Adani Group quoted a per passenger fee of Rs 168 for the Thiruvananthapuram airport and the price submitted by KSIDC did not come with the ten per cent of the highest bid for the Kerala government owned firm to get the benefit of the right of first refusal (RoFR).
AAI and the Adani Group could not be reached immediately for comments.
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