India relaxes bid conditions

By Administrator |

The Indian Government has been forced to relax the terms and conditions for companies bidding in the privatisation processes for Mumbai and Delhi airports after only one offer met the selection criteria.

Some observers say that this now leaves it in a somewhat challenging dilemma where five bidders have now been shortlisted, with a decision expected sometime this week.
The only bidder that met the original selection criteria was a consortium of GMR, comprising an Indian construction company, Fraport, a Malaysian company and IDFC, an Indian infrastructure fund.
Following the revised selection criteria, the GMR-Fraport consortium is now said to be the favourite to win the $1.3bn Delhi Airport project, while GVK, a Hyderabad construction company, and its partner, Airports Company of South Africa, are reported to be in the lead for the $1.2bn project at Mumbai Airport. The deadline for all bids is today.

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