-------------------------------------------------------------------------- | Goanetters annual meet in Goa is scheduled for Dec 27, 2005 @ 4pm | | | | Watch this space for more details | | | -------------------------------------------------------------------------- India Defers Bids For Delhi, Mumbai Airport Modernization
NEW DELHI (Dow Jones)--A panel of Indian ministers Wednesday deferred a decision on selecting bidders for the modernization of Delhi and Mumbai airports, the country's civil aviation minister Praful Patel said Wednesday. The move implies that the government's deadline of finalizing bidders and awarding the contracts on or before December 31 will not be met. "A committee of five secretaries, headed by the cabinet secretary, will now look into the process and submit their recommendation to the empowered group of ministers within two weeks," said Patel without elaborating. The federal government's left-wing allies have been opposing the modernization of the two airports disagreeing with the selection criteria for the bidders. Five bidders submitted bids for upgrading Delhi airport. And six consortia, comprising Indian and overseas companies, submitted bids for modernizing the airport in Mumbai in September. The companies in the six consortia include: India's Reliance Energy Ltd. (500390.BY), Reliance Airport Developers Pvt., and GMR Infrastructure Ltd.; Australia's Macquarie Bank Ltd. (MBL.AU); Aeroports de Paris (ADP.YY); German company Fraport AG (FRA.XE) and Malaysia Airport Holdings BHD (5014.KU). The Indian government plans to form two joint venture companies which will restructure and modernize the two busiest airports in the country. Private companies will hold a 74% stake in the venture and remaining 26% will be held by Airports Authority of India and other government companies. The successful bidders will be allowed to run the airports on a 30-year lease, which can further be extended by another 30 years. The Indian government will, however, handle "sovereign functions" such as airport security, customs, immigration and air traffic control. -------------------------------------------------------------------------- | Goa - 2005 Santosh Trophy Champions | | | | Support Soccer Activities at the grassroots in our villages | | Vacationing in Goa this year-end - Carry and distribute Soccer Balls | --------------------------------------------------------------------------
