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Our Bureau

New Delhi , March 22

SUNIL Mittal-owned Bharti Group has formed a consortium with Changi Airport of Singapore to bid for the modernisation programme of Delhi and Mumbai airports.

"The consortium, will work towards the successful bidding and picking up of equity in the airport privatisation initiative undertaken by the Government of India," Bharti Enterprises said in a press statement here on Monday.

HSBC Bank will act as the financial advisors for the 50:50 joint venture, a company spokesperson said.

The Airports Authority of India (AAI) had earlier proposed to restructure and modernise the Delhi and Mumbai airports through the formation of separate joint venture companies in which AAI and other public sector entities would together hold 26 per cent equity and the remaining equity would be held by private sector partners.

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Bharti to bid for airport update project with Changi

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