Tuesday, August 30 2005 12:11 Hrs (IST) - World Time -

New Delhi: The transaction document for restructuring and modernisation of Delhi and Mumbai airports is expected to be given out to the 8 shortlisted private bidders today (August 30, 2005), official sources said yesterday (August 29, 2005).

The eight consortia, which are in the race are likely to offer their technical and financial bids on the basis of the transaction document in the next two weeks, the sources said. The government is expected to decide on the winners soon thereafter. Two winning consortia would be selected for Mumbai and Delhi airports, who would form two joint venture companies with the Airports Authority of India and other public sector entities, with the private bidder holding 74 per cent equity.

The transaction document, finalised by an empowered Group of Ministers (GoM) in June this year, is likely to specify that the successful bidder for Delhi airport would be allowed to specify 5 per cent of the total area earmarked for the new airport in Delhi for commercial development. While 70 per cent of this area would be kept for runway and airside development, 10 per cent would be reserved for green area.

At the Mumbai airport, 10 per cent of the total area can be used for commercial development in keeping with the laws of Maharashtra.

The global technical advisor for restructuring of the two airports has made a preliminary estimate that a capital expenditure of over Rs 8,700 crore would be required for Delhi and Rs 6,400 crore for Mumbai.