Friday, March 29, 2013

NEWS | AAI plans to set up JVs with public, private oil companies to meet jet fuel requirements


State owned airport operator Airports Authority of India (AAI) plans to set up joint ventures with public and private sector oil companies and airlines to meet jet fuel requirements of air carriers in remote regions of the country.
The idea of this arrangement was discussed in the presence of Petroleum Secretary and various oil companies including Reliance Industries, Agrawal said he said Tuesday.
AAI will hold a 13 per cent stake in joint venture with other companies being free to decide on how much stake they would like to hold among themselves, AAI chairman V P Agarwal said.
""Take Kangra, it does not have a fuelling facility. Somebody flying from Delhi has to carry the fuel from the national capital to be able to come back. This unnecessarily disturbs the economics. The other objective is that less space is occupied by oil companies otherwise everybody duplicates. We will create sufficient capacity so that everybody puts their oil in it," he said.


SOURCE:http://articles.economictimes.indiatimes.com/2013-03-26/news/38040499_1_airport-operator-aai-plans-jvs
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