Processing .....please wait.. 
The article has been forwarded.... 
Tata ties with Singapore's Changi Airport
By siliconindia
|
Wednesday, 21 February 2007, 18:30 IST
Singapore: Tata Group has formed a strategic alliance with Singapore based Changi Airports International to modernize the airports in India.
In a statement Changi Airports said that they would announce the privatization programmes for both the airports, later in the year. The companies will establish a joint venture firm that would bid for the Chennai and Kolkata airports, which are being privatized by the Indian Government, reported a national English daily.
Chennai Airport handled 6.77 million passengers last year and is the third busiest airport in India. The Kolkata Airport is the countrys fifth busiest, with annual passenger traffic of 4.4 million, the Changi statement said.
Tata Group will have a 51 percent, while Changi Airports will hold 49 percent stake in the joint venture.
Changi Airports is wholly owned by the Civil Aviation Authority of Singapore, which operates Singapores Changi Airport. Last month, Changi Airports announced it has acquired a 29 percent stake in Nanjing Lukou International Airport, the largest airport in Chinas Jiangsu province, for 138 million US dollars.Elsewhere in China, the company is also providing consultancy services to the airports in Chengdu and Qingdao.