Tatas in race for Chennai, Kolkata airport projects

Tata Sons is set to make another big splash in aviation after its recent foray with Singapore Airlines and Air Asia. CNBC TV 18 learns that Tata Group is likely to bid for 100% stake in two airport projects, i.e they are planning to bid for the government’s stake in the Chennai and Kolkata airports. The government had allowed privatisation of six airports in August this year. Tata group’s interest in this clearly comes at an appropriate time, considering that the Tatas have announced their two airline joint ventures (JVs), one with Air Asia and one with Singapore Airlines recently. Experts say that this airport foray will not only help them expand their base further but help them gain market share in the aviation space too. We further understand that Tata group may look at investing around Rs 2800 crore on brownfield expansion for these two projects, which include investments for their metro connectivity, and addition of new terminals too.
Read News In Full 25/09/13 CNBC-TV18/moneycontrol.com