AAI inks MoU with IL&FS to bolster overseas expansion

State-run Airports Authority of India (AAI) has tied up with infrastructure giant IL&FS' subsidiary IL&FS Global Financial Services to help it spread its wings overseas.
The two sides --AAI and IL & FS Global Financial Services (ME) Ltd --have signed a memorandum of understanding (MoU) in this regard, a release said today.
AAI's vision is to go global from local, considering its expertise and capabilities in airport development and operation and management, the release said quoting AAI chairman R K Srivastava, in whose presence the MoU was inked.
AAI over a period of time has developed more than 60 airports, in metro and non-metro cities in India and it now intends to leverage to expertise to other international markets at a bigger scale, he said.

By signing MoU with IL&FS, AAI would be getting an opportunity in identification of airport development opportunities, transaction structure and financing facilities in Middle East, Africa regions as well as in CIS countries, the release added.
IL&FS Global Financial Services (ME) Ltd's chief executive officer Murugan Sankaran, on his part, assured the national airport operator of considering its network globally and its willingness to mutually cooperate with AAI to take up airport development opportunities in the target regions, it added.