Fraport Executive: Weighing Sale Of 10% Stake in Delhi Airport to GMR Infrastructure
06/08/2012| 07:01am US/Eastern
By Prasenjit Bhattacharya
NEW DELHI--Airport operator Fraport AG (>> Fraport AG) is considering a sale of its 10% stake in Delhi International Airport Ltd. to GMR Infrastructure Ltd. (532754.BY), a company executive said Friday.
"Since our license as the operator of the Delhi airport expires next year, [a] sale of stake is one of the options we are looking at, or perhaps a change of role in this venture," Ansgar Sickert, Fraport's India representative, told Dow Jones Newswires.
GMR holds a majority stake in Delhi International Airport, the consortium that operates the Delhi airport.
Mr. Sickert also said that he's relocating to Frankfurt soon, which would effectively mean closure of Fraport's India business development office, where he is the sole employee.
However, he said Fraport remains interested in investing in India. "We are enthused by Prime Minister Manmohan Singh's statement on new airport development. So, Fraport will continue to look at how it can invest in this country from Frankfurt."
Wednesday, Mr. Singh said that the government planned to award projects for building three airports in Goa, Kannur and Navi Mumbai, and that it is also looking at other international airport projects.
Write to Prasenjit Bhattacharya at firstname.lastname@example.org