24 June – LAWFUEL – The Law News Network – Linklaters has advised the private promoters on the first greenfield airport to be privately owned and project financed in India.
Siemens Project Ventures GmbH, Flughafen Zuerich AG and Larsen & Toubro Ltd were advised by Linklaters on the design, construction, operation, maintenance and financing agreements for the new international airport in Bangalore, India. The transaction was financed entirely by Rupee debt, equity and a state loan.
The successful model, developed by Linklaters, is now being adopted for the development of the Bombay and Delhi airports and other privately owned airports in India.
Crawford Bayley provided Indian counsel to the Private Promoters, Jyoti Sagar & Associates acted as counsel to the State Promoters, Amarchand Mangaldas advised the Government of India and AZB & Partners advised the Lender (ICICI Bank Ltd).
Sandeep Katwala, Head of the India Practice, who led the Linklaters team said;
“This is the first time a greenfield airport has been privately owned and project financed in India and we were excited to be at the heart of developing a successful model for the project which has already been rolled out to other airport projects in the country.”
“Linklaters has a dedicated India Practice with extensive experience of working in the market and the India team are delighted to be involved in such a landmark project for India.”
The Linklaters team also included Matthew Keats, Kunal Thakore, Feroz Dubash and Shilpa Bhandarkar.