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GMR, GVK given first papers

THE GOVERNMENT is moving with alacrity on the modernisation of the Delhi and Mumbai airports. A day after the strike by AAI workers' unions was called off -- and passengers walked into clean airport lobbies towing their baggage trolleys -- the government issued letters of intent to the successful bidders, GMR-Fraport and GVK-ACSA, inviting them to sign agreements.

india Updated: Feb 06, 2006 14:12 IST

THE GOVERNMENT is moving with alacrity on the modernisation of the Delhi and Mumbai airports. A day after the strike by AAI workers' unions was called off -- and passengers walked into clean airport lobbies towing their baggage trolleys -- the government issued letters of intent to the successful bidders, GMR-Fraport and GVK-ACSA, inviting them to sign agreements.

Sources said the bidders were expected to deposit Rs 150 crore each as security on Monday. After the receipt of the security deposit, the government will sign the agreements and start the transition process, which is expected to be completed before March 31.

Meanwhile, the consortium of Sterlite and Macquarie Bank has written to the eGoM, seeking a fresh reconsideration and opening of financial bids. It has claimed that the consortium of Sterlite-Macquarie Bank-ADP committed to share 43.04 per cent of revenues with the AAI in its financial bid for the Mumbai airport. GVK, had bid only 38.7 per cent.

It has alleged that the national exchequer will lose over Rs 2,000 crore because of GVK's lower bid.

First Published: Feb 06, 2006 14:12 IST