Despite the delays due to red tape, there is hope for the bidders of Delhi and Mumbai airports, as all ministries concerned have sent their observations to the civil aviation ministry. Most of their proposals have been incorporated in the transaction documents, which are expected to be released this week.The law ministry was among the last to send its comments on the language being used in the documents. While the document is now ready, sources said, the only fear is whether the bidders would find the terms strict.The finance ministry has approved limited financial counter guarantee for the project. According to the estimate prepared by the technical advisor appointed for the project, the capital investment required in Delhi will be to the tune of Rs 8,720 crore and Rs 6,400 crore for Mumbai.Further, plans to have large entertainment parks and golf courses have all been turned down by the finance ministry, which has asked the civil aviation ministry to ensure that commercial activities are linked with better facilities for the air traveller.Moreover, according to state government laws, only 5 per cent area will be available for commercial activity in Delhi while it will be 10 per cent in Mumbai. Both states have agreed to provide support by way of ensuring that the site available is free of encumbrances.However, official sources said, they are not obliged to remove all obstructions and that the document will assign this as the responsibility of the promoter. Still, all efforts have been assured by both governments to help the promoters to develop these two airports.The main concern in Mumbai for this purpose will be the slums for which the Maharashtra government has a relocation programme underway. And in Delhi’s case, it’s the relocation of a village vital for the second runway to come up. The second runway is part of the mandatory tasks to be completed in the first phase by the Delhi airport’s promoter.Despite this, officials are optimistic that the tremendous revenue potential of the airports will keep the bidders eager enough to get on with the task at hand. Having gone through the exercise once, officials are also hopeful that the process of restructuring in Kolkata and Chennai will not take this much time.Once the transaction documents have been released for Delhi and Mumbai airports, the ministry plans to immediately work on identifying a financial consultant for Chennai and Kolkata airports.
