Indian Government receives 11 bids Mumbai, New Delhi Airports

Indian Government receives 11 bids Mumbai, New Delhi Airports

The airports in India are in a really bad shape and the government is hoping to get private companies drop in with their support to improve their conditions. An invitation from the Indian government has resulted in 11 bids for the main Mumbai and New Delhi based airports. These include offers from the Fraport AG and Aeroports de Paris. The bids are for selling these airports to get them into private hands.

Of these 11 bids, six are for the Mumbai airport and five for the New Delhi airport as per the report released by the Civil Aviation ministry. However, they also informed that Hochtief AG and Singapore Airport Changi Enterprises have withdrawn from the bids saying that they could not meet the demands and conditions of the government. Indian government plans to sell stakes in the airports by the end of the year and upgrade infrastructure in Asia’s fourth-biggest economy.

These airports might require as much as $3.5 billion of investment in the next 10 years with the passenger traffic increasing and new airline companies setting up operations in the country. Kapil Kaul, chief executive officer of the Indian unit of the Centre for Asia Pacific Aviation said in a statement about this news: “This is definitely a good, forward movement, finally. It has been delayed for very long and the country’s infrastructure needs has been growing enormously. This will eventually solve the problems.”

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