Germanys Fraport For Airport Projects In India
Germanys Fraport AG Frankfurt Airport Services Worldwide plans to adopt a multiple partner approach for airport projects in India. The company is also examining various airport projects with realestate developer DLF Ltd.
Mr Christoph Nanke Senior Executive Manager Fraport Global Investments and Management as well as alternate director on Board of Delhi International Airport Ltd DIAL said We are currently looking at various projects within India. The approach would be having multiple partners. Fraport would prefer having a minimum of 26 per cent stake in the project.
The German company which is the owner and manager of Frankfurt airport is looking for investment opportunities where prospects are high and the projects are economically viable. Fraport has already forayed into airport modernisation projects in India with a GMR Groupled consortium for Delhi airport through DIAL.
As regards tieup with DLF Mr Nanke said it would not be limited to DLFs SEZ projects alone. Fraport and DLF already have an agreement for exploring business opportunities in the sector. He however declined to give the names of the projects the two are examining. The company was looking at threefour projects including the Goa project.
No breach of clause
Brushing aside talk that the tieup with DLF would adversely impact its relations with GMR Mr Nanke said The tieup with GMR is project specific and does not lead to any breach of clauses. The company was targeting to finish the Delhi airport project on schedule. In fact GMR and Fraport have competed against each other for the Turkey project.
For smaller nonmetro airports the company would prefer to get twothree projects together as it would make more economic sense he said. Besides the company would also prefer management control in these projects.
Global projects
Apart from opportunities in India Fraport was also keen on expanding its business in China West Asia and parts of Europe. For global projects Fraport does not rule out the possibility of roping in lenders as partners. On whether India was ready to have low cost airports he said the market in India is yet to mature for low cost airports to become viable.
Stating that Asia will continue to be the fastest growing region according to all forecasts IATA Airbus and Boeing he said India and China will top with the double digit growth in the coming years.
As regards how the business opportunities in India are different from that in China he said both India and China are currently at a similar stage of development as far as the sector was concerned. However in India there are various levels of deliberations and discussions while in China the decisions are taken at one level.
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Source: IndiaRealEstateblog
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