No GMR Bids For Brazil Airport Work

February 3, 2012

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India's GMR Infrastructure did not bid for contracts to update and expand three Brazilian airports but will consider joining a second round of bidding, a senior company executive said on Friday.

A company official told reporters last month that GMR was preparing to bid for projects at Sao Paulo's Guarulhos airport, Viracopos airport near Sao Paulo, and Brasilia airport, which serves Brazil's capital. The deadline for bids was Thursday.

"We have not gone ahead and bid, and I think the prime reason is that we entered the country fairly late," said Sidharath Kapur, chief financial officer of GMR's airport business, which builds and operates airports.

"We started looking at these opportunities only about four months back, and when it came to the final stage, we felt that we are not fully prepared," Kapur said.

"We need some more time to understand the country, the geography and the environment," he said.

"We are committed to the Brazilian privatisation story and we would definitely like to participate in the second round, which is expected to come up in June or July."

The next round is expected to include a project to modernise and expand Rio de Janeiro's airport, he said.

(Reuters)