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Dubai consortium in airport bid for India, China, Middle East |
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2/24/2006 7:30:20 AM |
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SINGAPORE (AFX) - A newly-formed Dubai consortium unveiled plans to bid for the development and operation of airports in China, India and the Middle East, a market they estimate to be worth 400 bln usd.
The consortium sealed a partnership today during Asian Aerospace, the world's third-largest airshow.
A statement said the group will 'target the 400 bln usd airport development and operations market in the emerging economies, primarily in the Middle East, India and China.'
The consortium comprises DAE Airports and six other top companies in the United Arab Emirates.
DAE Airports is a subsidiary of Dubai Aerospace Enterprise (DAE), a recently launched holding firm that aims to invest 15 bln usd in manufacturing and services in the aviation sector.
Its partners are real estate-based Emaar, air services supplier DNATA, aviation industry technology firm Mercator, Emirates National Oil Co, Amlak Finance and Dubai Airports Free Zone Authority (DAFZA).
'Our clients from around the globe, particularly in this region and the emerging markets of Asia, are being offered a one-stop solution for their airport needs,' said DAE managing director Mohammed Al Zarouni.
'Through DAE Airports, they will have access to a wide range of capabilities, whether this is a new airport on a greenfield site, a sophisticated operations upgrade at an existing site, or a privatisation.'
Under the agreement, consortium leader DAE Airports will identify the target projects, structure the deals and bid jointly with its partners.
The focus would be on developing new airports on a build, own, operate and transfer scheme.
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