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New Delhi, Feb 22 () Dilip Buildcon on Saturday said it has executed an EPC (engineering, procurement and construction) agreement for construction of a new greenfield airport at Rajkot in Gujarat."...the company has executed an EPC agreement with the Airport Authority of India for an EPC project in the state of Gujarat," Dilip Buildcon said in a BSE filing.The project cost is Rs 570.06 crore and completion period is 30 months, it added. SR SR BALBAL

Dilip Buildcon executes EPC agreement with AAI to construct airport in Guj

The Airports Authority of India and operator of Singapore’s <keyword id="875277" type="UNKNOWN" weightage="20" keywordseo="Changi-airport">Changi Airport</keyword> have entered into an agreement and the latter has become the first foreign company to manage Indian airports. 
 
Changi has been given contracts for Ahmedabad and Jaipur airports. 
 
There was no bidding for the contract and the decision was made during PM Narendra Modi’s visit to Singapore. However, financial terms haven’t been finalised yet. 
 
AAI wants to compete against global airport majors in bidding for the Goa airport. AAI will likely form a special purpose vehicle to bid for the Rs 3,000 crore project. 
 
As India’s domestic air traffic growing, more and more global players are showing interest in Indian airports. 
 
As per International Air Transport Association data , October’s revenue passenger kilometers rose 17.6% in India's domestic sector. The next best was China, with growth of 12.8%. 
 
Meanwhile, Ahmedabad has a huge traffic mainly from corporate executives, whereas India’s pink city of Jaipur has more foreign and domestic tourists coming in. 
 
PwC had said that India is expected to see an average annual increase in infrastructure spend of 15.4%, amounting to around $14 billion over the next decade. 
 
(Image: Indiatimes)

You may feel a hint of Singapore at Ahmedabad, Jaipur airports soon

Mumbai, Feb 14 ( ) Adani Group on Friday inked agreements with the Airports Authority of India (AAI) for the management, operations and development of Ahmedabad, Mangaluru and Lucknow airports. "Today, as we sign the concession agreements for Mangaluru, Lucknow &amp; A'bad with the AAI, its the beginning of another historic journey catering to India's exponential airport infra demands," Adani Group chairman Gautam Adani said in a tweet. In 2018, the government decided to privatise airports at Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati. It was for operation, management and development of these aerodromes through public-private partnership model. Adani Enterprises Ltd (AEL) won the rights to run these six airports after competitive bidding process. IAS RAMRAM

Adani group, AAI ink pacts for managing three airports

State-run Airports Authority of India is eyeing the international markets at a bigger scale now. It could become the third Indian player in the overseas airports space, after <keyword id="6555177" type="ORGANIZATION" weightage="100" keywordseo="GVK">GVK</keyword> and <keyword id="6380521" type="ORGANIZATION" weightage="100" keywordseo="GMR">GMR</keyword>. 
 "<keyword id="47439" type="COMPANY" weightage="100" keywordseo="Aai">AAI</keyword> has the expertise and capability in airports development. Besides developing and managing its own airports, it has also helped some Gulf airports in the past in the development works. We now want to leverage our expertise to other international markets at a bigger scale," highly placed sources in the company told PTI. 
 
Of the 125 AAI-managed airports, 18 also cater to international traffic, 78 are domestic, seven customs airports and 26 civil enclaves at defence airfields. 
 
"We have recently modernised and developed several airports including those in Kolkata, Chennai, Lucknow, Jaipur and Chandigarh on our own. These are all modern airports and reflect our expertise and engineering capabilities in the area," they said. 
 
Moreover, AAI also has the advantage of a vast pool of manpower, which can be best utilised in executing overseas projects, sources said. AAI has a work force of over 18,000 people. 
 
AAI employees union, which is opposed to further privatisation of airports in the country, has several times in the past alleged that the handing over of four more airports--Chennai, Kolkata, Jaipur and Ahmedabad--to private entities could result in mass lay-offs. 
 
As of now, private players GMR and GVK groups, which run Delhi, Hyderabad, Mumbai and Bangalore airports under a joint venture agreement with AAI, are present in overseas markets. 
 While the GMR group is developing Mactan Cebu International Airport in the <keyword id="3750" type="COUNTRY" weightage="100" keywordseo="Philippines">Philippines</keyword> in collaboration with a local partner, GVK group is executing two airport projects in <keyword id="8692" type="COUNTRY" weightage="100" keywordseo="Indonesia">Indonesia</keyword>. 
 
"We have not yet decided which market to begin with and are exploring several geographies globally. But any decision in this regard would be based on the growth potential in that region," sources said. 
 
Sources also said that AAI is open to various business models while undertaking projects abroad which include development of Greenfield airports as well as management contracts. 
 
(Image credits: Indiatimes)

Know all about AAI’s international plans

Mumbai, Jan 19 () Aviation consultancy firm CAPA has said it expects the second international airport in Goa to be ready for operations in next three years. 
 The Supreme Court on Thursday cleared the decks for construction of an international airport by the GMR Group at Mopa in North Goa by lifting suspension on environmental clearance (EC) granted for the project.
 Immediately after SC's order, the GMR Group said it plans to start work soon for the new aerodrome.
 The top court had early last year suspended the EC granted for the greenfield airport and had directed the Expert Appraisal Committee (EAC) to revisit the decision in light of its impact on the ecology there.
 "Delays in critical infrastructure projects is costly for the economy and the consumer. It is good that GMR Group's Mopa project finally got clearance. We can look forward to new airport in next three years," CAPA South Asia Chief Executive Officer Kapil Kaul told .
 The state government had initially given September 2020 as the deadline for commissioning of the estimated Rs 3,000 crore airport project after GMR Group won bids for development and operations of the aerodrome in 2016, beating state-run Airports Authority of India (AAI) and Essel Infra-Incheon.
 However, Goa Chief Minister Pramod Sawant said in the Assembly last year that he was expecting the airport to be completed by 2021.
 Kaul also said that the the delay is likely to push up the project cost, but its impact could be minimised.
 "There will be cost escalation but GMR has the ability to minimise the impact," he said.
 GMR had last year said it was incurring a loss of Rs 50 lakh per day on account of suspension of work at the project.
 The new airport, which under the concession agreement offers 232 acres of land for commercial city side development for a period of 60 years, would have a capacity to handle 30 million passengers annually once fully operational.
 The existing airport at Dabolim, which was designed to handle 50 lakh passengers per year, has far exceeded its capacity and AAI has already embarked on an expansion plan to increase the capacity to 1.30 crore passengers per annum by 2022. 
 The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process.
 The airport will be built under the BOT (Build Operate Transfer) model.
 The regulatory regime for the concession will be hybrid till with 30 per cent cross subsidy.
 Under the hybrid till model, only up to 30 per cent of the non-aeronautical revenues, which include segments like retail, food and beverages and parking, would be used for cross-subsidisation of aeronautical charges. 
 Aeronautical charges include those related to route and terminal navigation services. IAS RVK

Goa's 2nd international airport in Mopa to be ready in 3 years: CAPA

COIMBATORE: The government wants Indian airlines to take up more international routes and is ready to sign new bilateral agreements towards this, said Union <keyword id="13124" type="POSITION" weightage="80" keywordseo="Civil-Aviation-Minister">civil aviation minister</keyword> Ashok Gajapathi Raju Pusapati on Monday. 
 
“The government would definitely not mind the increasing number of international passengers and raising freight. But this should contribute to our economy’s GDP and not to another country’s GDP,” the minister said while reacting to a request from the industry to directly connect Coimbatore with Dubai. 
 The minister was in the city on an invitation from <keyword id="166814" type="ORGANIZATION" weightage="80" keywordseo="Indian-Chamber-of-Commerce">Indian Chamber of Commerce</keyword> and Industry (ICCI), which submitted a memorandum to him on improving the Coimbatore airport’s infrastructure and connectivity. 
 
“It would be a great help if Coimbatore was connected directly with Dubai because then we are directly connected to any destination in Europe,” said ICCI president D Nandakumar. 
 “Now we are forced to send all our export-oriented goods to Dubai through Kochi, Bangalore, Kozhikode and Chennai, where we waste a whole night in transit,” said former head of PSG <keyword id="106925" type="ORGANIZATION" weightage="80" keywordseo="Institute-of-Technology">Institute of Technology</keyword> C R Swaminathan. 
 
“Recently SpiceJet, which is an Indian carrier, and Fly Dubai met us saying they were ready to operate flights from Coimbatore to Dubai and back, if only the city is included in the bilateral agreement,” he added. 
 
“Right now we have industries in Karur, Palakkad, Tirupur and Coimbatore which need to send their goods to Europe, but are forced to send it through Mumbai, Kochi and Bangalore. We can bring all that freight business back to Coimbatore if we are connected to Dubai,” stressed CII’s Coimbatore zone chairman Ravi Sam. 
 
The minister agreed to look into why Coimbatore was not included in the Bilateral Aviation Safety Agreement which included 18 cities, including Madurai and Trichy. However, he said Indian airlines were not making use of the existing bilateral agreements. “Such agreements are pointless if Indian airlines do not perform and use it,” he added. 
 He maintained that the government was open to privatizing non-performing assets like certain airports and airstrips but said it would not be a solution. “There are so many airstrips which are running on heavy losses. Those even in the private sector would not be interested in,” said Raju. “So we would probably try creating a mix which would result in the <keyword id="74939" type="ORGANIZATION" weightage="60" keywordseo="Airport-Authority-of-India">Airport Authority of India</keyword> (AAI) getting a revenue out of everything,” he added. 
 He said there were plans to professionalize the management of <keyword id="2573" type="CITY" weightage="80" keywordseo="Air-India">Air India</keyword>. “There is a long way to go to turning around Air India and making it our nation’s pride,” he added.

Indian Govt Wants More Indian Airlines To Take Up International Routes, Says Civil Aviation Minister

<ul><li>The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Tuesday. The SGX Nifty was trading 0.62% higher at 7:45 am, indicating a green start for Nifty50. The US stock markets also soared on Monday, as encouraging economic data and election bets lifted indexes. The Dow Jones Industrial Average closed 423 points higher, and the S&amp;P 500 gained 1.23%. These are the stocks to watch out for during the trading session on November 3: Tata Motors Auto giant Tata Motors reported a 27% jump in its total domestic sales to 49,669 units in October. The passenger vehicle segment grew 80%, whereas the commercial vehicle segment witnessed a marginal growth at 2%. The shares of Tata Motors ended flat on Tuesday. Cadila Healthcare The drug major Cadila Healthcare reported an over four-fold jump in its consolidated net profit to ₹473.4 crore for the quarter ended September 30. The company had posted a net profit of ₹107.2 crore for the corresponding period of the previous financial year. The company has significantly reduced its net debt-by ₹2,709 crore in the first six months of FY21, which is a 40% reduction from net debt reported in March 2020. The shares of Cadila Healthcare ended 3% lower on Tuesday. NTPC The board of state-owned power giant NTPC has approved the buyback of 19.78 crore equity shares at a price of ₹115 per unit for an aggregate amount of ₹2,275.74 crore. The company has fixed November 13 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares. The shares of NTPC ended 2.23% higher on Tuesday. Sterlite Tech The fiber optic cable manufacturing company, Sterlite Tech said it would acquire Italy’s Optotec S.p.A., a company specializing in optical interconnect products, for €29 million. The company said that the acquisition would create a solid springboard to offer a complete bouquet of solutions to customers across Europe, India and the Middle East. The shares of Sterlite Tech ended 2% lower on Tuesday. Adani Enterprises The Airports Authority of India (AAI) handed over the Lucknow airport to the Adani group on lease for a period of 50 years. The AAI had signed concession agreements with the Adani group on February 14 for operations, management and development of the Mangaluru, Lucknow and Ahmedabad airports. The shares of Adani Enterprises ended 0.16% higher on Tuesday. Shipping Corporation of India The board of the Shipping Corporation of India is slated to meet on November 6 to discuss the demerger of non-core assets. The shares of Shipping Corporation of India ended 2% lower on Tuesday. Nagarjuna Construction Company Nagarjuna Construction Company (NCC) bagged orders worth ₹833 crore from the mining division of Coal India’s arm. The shares of Nagarjuna Construction Company ended 1% lower on Tuesday. Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports Muthoot Finance, PVR, Sun Pharmaceutical Industries, Dabur and Adani Ports are the top companies slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/international/news/multiple-casualties-reported-in-vienna-terrorist-attack-officials-say/articleshow/79009954.cms">At least 2 people dead and more than a dozen injured in Vienna terror attack</a> <a href="https://www.businessinsider.in/politics/world/news/how-the-electoral-college-works-and-how-the-president-will-be-selected-this-year/articleshow/77745886.cms">How the electoral college works and how the president will be selected this year</a>

Top stocks to watch — Tata Motors, NTPC, Cadila Healthcare, Adani Enterprises, Muthoot Finance, Dabur, and others

New Delhi, Feb 14 () Following are the top business stories at 1840 hours: DEL65 BIZ-INFLATION-LD WPIWholesale inflation accelerates to 10-month high of 3.1 pc in Jan on costlier onion, potatoNew Delhi: Wholesale prices-based inflation accelerated to a 10-month high of 3.10 per cent in January mainly due to costlier food articles, particulary onion and potato, official data showed on Friday. DEL62 BIZ-FM-LD POST BUDGETGovt willing to do more beyond Budget to boost growth: FMNew Delhi: Finance Minister Nirmala Sitharaman on Friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21 to boost economic activities.DEL71 BIZ-TELECOM LD-ORDERAfter SC rap, DoT orders telcos to clear dues by 11.59 pm todayNew Delhi: After Supreme Court rap, the telecom department began issuing orders, directing companies such as Bharti Airtel and Vodafone Idea to clear dues before Friday midnight. DEL68 BIZ-EXPORTSExports dip 1.66pc in JanNew Delhi: The country's exports contracted for the sixth month in a row by 1.66 per cent in January to USD 25.97 billion, according to the data released by the commerce ministry on Friday. DEL56 BIZ-RUPEE-CLOSERupee settles 6 paise lower at 71.37 against US dollarMumbai: The Indian rupee on Friday fell by 6 paise to close at 71.37 (provisional) against the US dollar tracking heavy selling in domestic equities and strengthening of the American currency in the overseas market.DEL53 BIZ-DIPAM-AIR INDIAAir India sale expected in first half of next fiscal: DIPAM Sec PandeyNew Delhi: The government expects to complete sale of national carrier Air India in the first half of the next fiscal, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Friday. DEL50 BIZ-LD STOCKSMarkets fall for 2nd day as SC ruling triggers selling in bank stocksMumbai: Markets spiralled lower for the second straight day on Friday as banking shares slumped after the Supreme Court took a strong note of telcos not complying with its order to pay Rs 1.47 lakh crore in statutory dues. DCM31 BIZ-SBI-CHAIRMAN-TELECOMSBI not approached by any telco to finance AGR dues, say chairmanMumbai: It is incumbent on the telcos to find money and will be safe to presume that they would have made some arrangements for it by now, SBI chairman Rajnish Kumar said on Friday. DCM26 AVI-ADANI-LD AIRPORTSAdani Group, AAI sign pacts for managing Ahmedabad, 2 other airportsMumbai: Adani Group on Friday inked agreements with state-owned Airports Authority of India (AAI) for the management, operations and development of Ahmedabad, Mangaluru and Lucknow airports.DCM19 BIZ-US-INDIA TRADEUSTR Robert Lighthizer unlikely to visit India ahead of Trump's official tourNew Delhi: The expected visit of US Trade Representative Robert Lighthizer this month, ahead of the two-day official tour of US President Donald Trump, to discuss a limited trade package with India is unlikely, an official said. SHWSHW

Business highlights

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Sydney (AFP) - Virgin on Friday took full control of budget carrier Tigerair Australia, buying the remaining 40 percent it did not already own for Aus$1 (88 US cents) from its Singapore-listed parent.
The deal was revealed as it was announced that Singapore Airlines (SIA) would take majority control of Tiger Airways -- of which Tigerair Australia was a subsidiary -- as part of a turnaround plan for the loss-making budget firm.
Virgin Australia purchased a 60 percent stake in Tigerair in mid-2013 for Aus$35 million and said agreement had been reached to buy the rest of the carrier, which has struggled to reach profitability, for the tiny sum.
Tiger will continue to license its brand to Virgin.
Virgin Australia chief John Borghetti said the acquisition would allow it to fly to a number of new short-haul international destinations, providing growth opportunities for the business, while accelerating Tigerair's drive for profitability.
"Given the ongoing subdued consumer demand in the Australian domestic market, the growth of the Tigerair Australia domestic fleet is likely to be reduced," he said. 
"Under this proposed transaction, we will benefit from the economies of scale and achieve profitability ahead of schedule by the end of 2016, by leveraging the resources of the wider Virgin Australia Group."
In Singapore, Tiger Airways said SIA would convert its "perpetual convertible capital securities holdings" in the carrier into shares, raising its stake to 55 percent from 40 percent.
It said the move would effectively make Tiger Airways a subsidiary of SIA, which also operates a long-haul budget unit called Scoot.
Tiger Airways also said it will separately raise Sg$234 million (US$184 million) in a rights issue that will be mostly subscribed by SIA. The rights issue will be carried out after SIA increases its stake.
Tiger has been struggling to make money owing to tough competition in the booming Southeast Asian budget carrier market, which is dominated by Malaysia's AirAsia and Singapore-based Jetstar Asia.
Earlier this year, it sold its entire 40 percent stake in Tigerair Philippines to rival Cebu Pacific, and in July, its joint venture in Indonesia's PT Mandala Airlines ceased operations owing to losses.
The Tigerair Australia move, which is subject to Foreign Investment Review Board approval, comes after a difficult 12 months for Australian airlines as intense battle for market share saw both Virgin and Qantas suffer heavy losses.
Virgin posted a full-year net loss of Aus$355 million, while Qantas suffered a record loss of Aus$2.8 billion.

You Searched For "Changi Airport AAI agreement" and got 10 results

Dilip Buildcon executes EPC agreement with AAI to construct airport in Guj

PTI

You may feel a hint of Singapore at Ahmedabad, Jaipur airports soon

BI India Bureau

Adani group, AAI ink pacts for managing three airports

PTI

Know all about AAI’s international plans

BI India Bureau

Goa's 2nd international airport in Mopa to be ready in 3 years: CAPA

PTI

Indian Govt Wants More Indian Airlines To Take Up International Routes, Says Civil Aviation Minister

TOI

Top stocks to watch — Tata Motors, NTPC, Cadila Healthcare, Adani Enterprises, Muthoot Finance, Dabur, and others

Navdeep Yadav

Business highlights

PTI

Virgin takes full control of Tigerair Australia for Aus$1

AFP

Harvard professor reveals why America's infrastructure is so awful, who is to blame, and how we can finally fix it

Abby Jackson,Henry Blodget

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