Joint Venture Cell

Joint Venture Cell

As per the policy of Government of India, some airports have been handed over to private operators for Operation, maintenance and development under PPP model. AAI has also invested in a number of Green Field projects developed by private parties, State Government and other Government Agencies.

Joint Venture Cell has been formed in order to monitor the development operations of these airports with respect to various provisions of OMDA. The Department reports to Member (Finance).

Functions of JVC Cell are as follows:

• To ensure the performance and the compliance of various parameters as laid down in the OMDA Agreement.

• Monitoring of Escrow Bank Account towards the collection as well as utilization of Development Fees by JVCs.

• Appointment of Independent Revenue and Development Fee (DF) Auditors / Independent Engineers / Probity Auditors in terms of OMDA and Review of Reports submitted by them.

• Review of reports in terms of OM DA and other Agreements.