INDIA. The government signed an operations, maintenance and development agreement (OMDA) on Tuesday with the two private consortia that are to modernise Delhi and Mumbai airports.
The government signed the agreements to set up joint venture companies between Airports Authority of India and GMR-Fraport and GVK-South African Airports for the two projects at Delhi and Mumbai respectively. Each project will cost US$1.2 billion.
The two private consortia won the airport modernisation contracts in January.
OMDA is one of the mother agreements governing the airport modernisation projects. It outlines operational guidelines, duties and extent of control of the respective shareholders in the two government/private ventures.
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