GMR Group seeks to partner Airports Authority of India in overseas projects
The move comes just months after GMR’s contract for the Male airport was cancelled after a regime change in Maldives. GMR is now in a litigation to get nearly $800 million as compensation.
“The talks are at a very nascent stage,” said one of the people. “AAI has not yet decided anything and will look at the merit of any project before committing to a partnership.”
A positive outcome to the talks will not, however, change the ownership pattern of the Sahiba Gokcen International Airport in Istanbul. Apart from Turkey, GMR also operates airports in Delhi and Hyderabad.
“We have no such plans as of now,” said a GMR spokesperson, when asked to comment on the development. Sources said GMR is seeking a partnership with AAI as it would help mitigate some of the political risks while going in for an overseas project. It could also get indirect support from the Indian government, which could use its diplomatic clout to help the partners bag international projects or in resolution of disputes.
GMR was forced to relinquish control of the Male international airport after a change in the island country's government that didn't agree to GMR’s policy of user development fee. The Hyderabad-based airport developer had to leave the airport after a month's litigation and is now fighting for a