New Delhi: The process of privatisation of Delhi and Mumbai airports is moving ahead. The GMR Fraport combine has submitted Rs 500 crore bond to the Government for Delhi airport modernisation after it won the contract last week. This is required as part of contract.
Meanwhile GVK-South Africa Airport said it will deposit the money within a few days.
The government has already issued a letter of Intent to the two consortia for the modernisation contracts.
The Airport Authority of India had also on Sunday asked the two successful bidders to furnish bond guarantee of Rs 500 crore by February 14.
After the submission of the bond guarantee, which has been increased from Rs 50 crore at the bid stage to Rs 500 crore now, the two successful bidders would move towards signing of the formal agreement for modernisation of the two airports and formation of joint ventures with AAI.
The Union Cabinet had decided on February 1 to award the contracts for Delhi and Mumbai airports.
Earlier, on Saturday Airport workers called off their four-day-long strike after Aviation Minister Praful Patel wrote a letter to Airport Unions saying that there would be no victimisation of Airport Authority of India (AAI) employees.
However, the two companies had only agreed to absorb a minimum of 60 per cent of employees working at the two airports leading to a widespread agitation in Mumbai and Delhi.
In a bid to find a solution to the nationwide strike by airport employees, the Prime Minister Manomhan Singh categorically stated that he would press ahead with plans to privatise two Indian airports.
While flights from the airports are reported to be operating without glitches, the passengers' plight has resulted in public criticism.
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