Millennium Post

Fraport to exit Delhi airport JV

The world's second largest airport operator Fraport of Germany on Wednesday said it will exit the Delhi airport by selling its entire 10 per cent interest and is in discussions with JV partner GMR Group in this regard.

'We expect the process of selling our 10 per cent holdings in the Delhi airport to be done by next June,' Fraport vice-president for global investments Kai Zobel told reporters.That would mark the complete exit of the German major from the country, as in June it had said that it would be shutting its development centre in the country.

However, he added that the company 'is open to further investments in this country but we would like policy clarity before that.'

Fraport picked up 10 percent stake in Delhi International Airport (Dial) in 2006 as part of the consortium formed by GMR Group after bagging the concession agreement from the government.

The other major partner in Dial is the state-run Airports Authority, apart from Eraman Malaysia. The move also comes as Fraport's role as an operator will lapse next May under the agreement JV with.

However, Zobel said his company is keen on looking at the proposed Navi Mumbai airport. 'But we don't want to simply play the role as an equity player,' he told reporters on the sidelines of the last day of the two-day Capa summit.In June Fraport had said they would be quitting the country due to policy and project delays and would also be shutting.
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