Gammon, Macquarie tie-up for Chennai a'port bid

Gammon Infrastructure Projects, a subsidiary of Gammon India and Macquarie, a global leader in infrastructure acquisition, funding and management, have formed an affiance to bid for the rights to develop, operate and manage Chennai Airport.

According to an official release issued by Gammon to the BSE today, as per the terms of the memorandum of understanding (MoU) signed recently, Macquarie and Gammon will hold equal equity stakes in the project. The consortium may also look to tie up with a leading airport operator in the bid for Chennai airport, which is the next big privatization opportunity in the Indian airports sector.