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GVK to be cautious while bidding for airports abroad

Source : BUSINESS_STANDARD
Last Updated: Thu, Jan 10, 2013 02:31 hrs
G.V. Sanjay Reddy, vice chairman of GVK Power & Infrastructure, attends the Reuters India Investment Summit in Mumbai

The GVK group today said it would be very cautious when bidding for airport projects abroad. "We will be very cautious when bidding for airport projects abroad. We will do so only with a very strong local partner who understands the local polity and economy," said G V Sanjay Reddy, vice-chairman, GVK group.

The GVK group had bid for the Male Airport project along with Zurich Airport, which the GMR group won. Recently, GMR had to give up the Male project over allegations of impropriety.

Meanwhile, despite the tempering of passenger growth numbers at the Bengaluru International Airport (BIA), GVK, which controls the running of the airport has said it would keep up the pace of the airport's expansion as envisaged in its initial plans which has been budgeted at Rs 1,000 crore.

Depending on passenger numbers, GVK, which holds a 43 per cent in the airport, would start work on Terminal 2 of the BIA.

The annual passenger numbers at the airport today is around 11.2 million, which is being seen as the airport working nearly at capacity at its peak.



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