NEW DELHI and Mumbai airports will be restructured and modernised according to the Indian government. Nine bidders have been short-listed and they have 12 weeks to submit their technical and financial bids, the Ministry of Civil Aviation has announced. Singapore's Changi Airport and Germany's Fraport are in the race for the airports. The modernisation of the two airports is estimated to cost more than $800m. The Indian government aims to set up two joint venture companies to hold the leases to operate the two airports and is offering a 74% stake in each to private firms. State-owned firms including the Airports Authority of India, the umbrella body that operates India's 125 airports, will hold the remaining 26%.
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