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Ashwini Phadnis

NEW DELHI, Nov. 1

PROSPECTIVE consortia bidders wanting a stake in the soon-to-be-leased airports in Mumbai or Delhi would do well to ensure that their outfit has a net worth of at least $100 million.

For, if the net worth is less than $100 million, or the gross turnover less than $50 million — or the bidder is in any way incapable of raising $50 million — then there is a chance of the bid being rejected in the heats itself. However, the net worth criterion is lower for the airports at Chennai and Kolkata.

Official sources told Business Line that the invitation for expression of interest (EoI) for leasing of the four metro airports, which is expected shortly, would specify the exact conditions.

The bidder might be asked to mention criteria "like they must have operated airports of specified traffic which could vary from 10-12 million passengers annually for Delhi and Mumbai, while it could be around 2-4 million passengers annually for the airports at Kolkata and Chennai", the sources said.

Besides, experience in executing similar projects and managing operations, as also a plan to make the airports among the 20 best in the world will decide the eventual winner.

On whether the bidding consortium should have an Indian partner, officials said that no firm decision has been taken as yet.

Sources admit that the leasing process has been delayed and will not be completed in the time-frame mentioned in last year's Budget speech. However, there is still speculation on whether the request for EoI will go out in November or whether the Government will may decide to wait till the Christmas holidays are over. Sources maintained that there had been several representations from international companies asking that the EoI be issued after the festival season to give enough time for proper perusal.

The leasing process has already evoked a good response from several leading airport operators like those from Singapore and Zurich and large construction companies participating in the road shows that were held in Delhi and London.

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