Nagarjuna Construction step into airport development, looks for foreign partners
05 Jun 2007
Hyderabad: City-based infrastructure major, Nagarjuna Construction Co. Ltd (NCC), with business interests in transportation, real estate, irrigation and power, is exploring an alliance with an international airport operator in order to bid for airport development and modernization projects around the country, in particular the airport project at Chennai.
According to reports, the company has held discussions with two-three international airport operators and will eventually form an alliance with one of them in order to bid for these projects.
Nagarajuna is following a trend, already established in the country, where most Indian companies interested vying for airport development projects are tying up with international firms with expertise in the area. Greenfield projects include a new airport at Navi Mumbai, recently cleared by the Union cabinet.
NCC also plans to bid for the 35 tier-II airports across the country that are also up for modernization.