Airports Revamp: GoM Shortlists 3 Companies

New Delhi, Nov 9: | Updated: Nov 10 2003, 05:30am hrs
The group of ministers (GoM), set up to direct the process of restructuring of Delhi and Mumbai airports, has shortlisted three of the five companies Abn-Amro, Ernst & Young and KPMG for appointment of a financial advisor. Bids submitted by Tata Economic Services and Price Waterhouse Coopers were rejected.

The GoM, comprising finance minister Jaswant Singh, disinvestment minister Arun Shourie, law minister Arun Jaitley and civil aviation minister Rajiv Pratap Rudy, will finalise the name of the financial advisor on Friday when financial bids will be opened.

TAKE-OFF TIME: Disinvestment minister Arun Shourie, finance minister Jaswant Singh, civil aviation minister Rajiv Pratap Rudy and law minister Arun Jaitley at the group of ministers meet on privatisation of airports in New Delhi on Sunday. FE Photo by Raaj Dayal
The group has also decided to appoint a global technical advisor to assist the civil aviation ministry on the parameters of the design and construction of ultra-modern airports at the two metro cities.

The shortlisted companies are Abn-Amro, Ernst & Young and KPMG, civil aviation minister Rajiv Pratap Rudy told reporters after about an hour-long meeting at the North block.

Asked whether any airline could hold stake in the airport modernisation process, he said the GoM would decide on all such issues.

The Cabinet had approved the restructuring of Delhi and Mumbai airports through the joint venture route with a maximum of 74 per cent private equity on September 11. The Airport Authority of India (AAI), along with other public sector entities, would together hold 26 per cent stake and continue to be responsible for air traffic services and civil aviation security.