Fraport has declared its interest in bidding for at least three Greenfield airport projects in India. Several new airport projects will be launched in 2010/11, with high-profile projects including Navi-Mumbai, Pune, Goa and a few smaller airports in Punjab.
Fraport already owns a 10% stake in the Delhi International Airport (DIAL) consortium and is keen to partner again for the upcoming contracts. Local players include Reliance ADAG, Lanco and L&T, as well as GMR and GVK. The latter has recently been expanding its stake in Mumbai Airport and is keen to play a bigger role in airport development projects across India.
Fraport also faces competition from foreign rivals including Changi Airports International (which has a partnership with Tata, and owns a 26% stake in the Greenfield Durgapur Airport project) and Malaysia Airports, which owns a stake in Hyderabad Airport (11%) and a small stake Delhi through its retailing division. Turkey’s TAV has also looked at Indian airport opportunities in the past.
Selected airports daily share price movements (% change): 18-Dec-09