Radisson Blu Airport Hotel, Zurich Airport, constructed by Karl Steiner AG, an HCC
- Our Business
Rapid economic growth has led India to become a preferred global partner for trade
and commerce. The growth in GDP and trade is also a result of the liberal open skies
policy and extension of Air Service Agreements (ASA). Between the years 1998-99
and 2008-09, passenger traffic has grown at a CAGR of 11.4%. India is also one of
the fastest growing tourist destinations. This has led to huge demands from the
transport industry in general and air transport in particular.
Over the next few years many initiatives are planned for improving airport infrastructure
in India. Currently, more than 50 operational airports are being modernised, while
feasibility studies are being carried out to make several others operational. Greenfield
airport development has also received a boost as two of the biggest greenfield airport
projects till date, Bangalore and Hyderabad, have been running successfully. The
success of these projects has provided the much-needed impetus to the central government
and the private players to take on greenfield airport development with confidence.
The Government of India has planned investments of Rs.35,000 crore for greenfield airports and Rs.30,900
crore for modernisation projects.
Over the last few years, the private sector has played a major role in the development
of this industry. Cochin airport was the first to be built on the public-private
partnership (PPP) format. Four major airports, namely Mumbai, New Delhi, Hyderabad
and Bangalore are now managed by private parties. The growth in non-aeronautical
revenue sources from commercial real estate development around the airport has also
presented an investment opportunity for several private players.
With its excellent execution abilities and history for safety and quality, the HCC
Group is set to enter the airport market. HCC Infrastructure is currently analyzing the industry
and its various drivers so that it can deliver world-class infrastructure solutions.
In the near future, the Company intends to finalize its partnerships with global
partners and participate in the rapid development of greenfield airports in India.