| The Centre is planning to privatise the two airports through joint ventures in which private parties will hold 74 per cent equity. The remaining 26 per cent will be held by the AAI and other public sector units. |
| A senior BPCL executive said the company is in talks with AAI to pick up equity in the 26 per cent which will be held together with AAI and other public sector undertakings. |
| "Although we expect to get only a small equity in the consortium we intend to be significant partner with our expertise in the aviation business," he added. |
| Incidentally, BPCL is also deliberating with other private bidders to join hands and explore the possibility of participating in picking up equity in the 74 per cent pie which is being earmarked for private parties. |
| The third largest oil refining and marketing oil major has informed the Bombay Stock Exchange about its interest in the privatisation plan of the Mumbai and Delhi airports. "But no proposal for investment had been approved by the board", the corporation informed the stock exchange. |
| As part of its strategy to be a significant player in the aviation turbine fuel market, BPCL is strengthening its ties with customers. In 2002-03, the company added new customers like Emirates, Saudi Arabian Airlines, Silk Air and My Travel Charter flights to its list. |
| The aviation business unit of the corporation accounts for nearly 3 per cent of its market sales and about 5 per cent of the margins. For the proposed venture, BPCL intends to bring expertise in setting up facilities for fuel supplies which are benchmarked to international standards. |
| Besides it will also bring in data management and guaranteed fuel supplies which are important in the aviation business. |
| The two airports are expected to be modernised and upgraded over five years at an estimated cost of Rs 5,000 crore. |
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