MIAL awards contract for duty free retail

MIAL's intent: best brands, competitive pricing and great service

February 26, 2007 "� Mumbai International Airport Private Limited (MIAL) today awarded the duty free retail contract for Chhatrapati Shivaji International Airport (CSIA), Mumbai to the Aldeasa-ITDC joint venture. During the three-year contract MIAL is expected to get a revenue of Rs. 571 crore. Aldeasa-ITDC, which will start operating the new Duty Free area from June 1 2007, was chosen from among five shortlisted bidders, all leaders in the global duty free industry. The others included DFS Group, the Nuance Group AG-Shoppers' Stop joint venture, the Alpha Airports-Future Group joint venture and the Dufry-Interglobe joint venture.

Aldeasa, the lead member of the joint venture, is the 4th largest airport duty free retailer in the world with sales of over US$ 600 million in 2005. Headquartered in Madrid, Spain, Aldeasa has been in the duty free business for more than 30 years and operates 183 airport shops at 40 airports in 14 countries. The duty free division of ITDC operates from 10 airports in India.

Located in the international Terminal 2C at CSIA, the duty free shopping area will be spread across 24,541 sq. ft. Of this, 14,585 sq. ft will be at the departure level, 8395 sq. ft at the arrival level and 1560 sq. ft will be for storage.

Aldeasa-ITDC will be responsible for designing and building the shopping environment, sourcing a wide range of international luxury brands and developing a strong promotional strategy.

Announcing the award of the contract, G. V. Sanjay Reddy, Managing Director, MIAL said: "Our primary consideration in awarding the contract to Aldeasa-ITDC has been to provide an enjoyable and luxurious shopping environment to passengers where travelers will find great merchandise, attentive service and compelling prices. We are sure that Aldeasa-ITDC's global expertise in travel retailing will enable them to cater to the shopping interests of local and international travelers alike, and create a new standard in duty free shopping in India".

In the new duty free experience at CSIA, passengers will have access to leading international brands from an extensive product range comprising liquor (premium whiskies, Cognacs, Champagnes and the best wines from around the world), tobacco (cigarettes brands from around the world, the best of Cuban cigars and pipe tobacco), cosmetics and perfumes (Lancome, Chanel, Dior etc), clothing (Hugo Boss, Ermenegildo Zegna etc), hi-tech electronics (Sony, Olympus, Canon etc), boutiques (Hermes, Burberry, Bvlgari etc), accessories (Swarovski, Lladro, Majorica etc)

MIAL placed particular emphasis on qualitative issues such as a highly competitive retail price policy, customer service commitment, merchandise range and store design in addition to the financial criteria in its evaluation process.

About Mumbai International Airport Pvt. Ltd. (MIAL)
Mumbai International Airport Pvt. Ltd. (MIAL) is a joint venture between the GVK-SA consortium and Airports Authority of India. MIAL was awarded the mandate of modernizing and upgrading Chhatrapati Shivaji International Airport (CSIA).

About GVK
GVK is amongst India's largest infrastructure developers with experience and expertise spanning areas including power, roads, airports and urban infrastructure. Until date GVK has invested over Rs. 5,000 crore into infrastructure projects and has on hand projects in the pipeline of over Rs. 12,000 crore.