Page 3 - Gmr

Dealing with debt: GMR builds cash pile on divestment plank

In a four-part series, BS finds out how these companies overcame the hump, though the road to recovery is still precarious

GMR eyes airport projects in Europe, South East Asia and East Asia

GMR Group, which operates three airports in India and abroad, is eyeing projects in South East Asia, Middle East and Eastern European countries besides looking for operations and maintenance of Jaipur and Ahmedabad aerodromes. "Airport business, going forward, can be a significant growth engine for the group. In line with our growth strategy, the Group is actively pursuing suitable airport opportunities in India as well as globally," GMR said in its latest annual report. "Domestically, the Group is exploring upcoming opportunities for the development of Nagpur Airport and O&M opportunity of Jaipur and Ahmedabad Airports. On the global front, it has pre-qualified for development and operation of Nikola Tesla airport in Belgrade, Serbia, Norman Manley airport in Jamaica. "Apart from the aforementioned opportunities, the Group is selectively exploring new opportunities in South East Asia, Middle East and Eastern Europe," the company said. Currently GMR's airport business ...

GMR to develop Greece airport

GMR group has won the bid to develop and operate a greenfield airport in Greece giving a boost to its aviation business.GMR has partnered Greek company GEK Terna to develop the airport at Heraklion on island of Crete. This will be the group's second overseas project (GMR runs Mactan Cebu project in Philippines. Earlier it ran airports in Turkey and Maldives) and the award win comes close on heels of a revival in its airport business. " GMR will be the designated airport operator in the consortium and will hold minimum 10 per cent stake in the consortium. The rest of the equity will be held by GEK Terna and Greece government. The construction will start by early 2018 and equity contribution will be required once the construction starts. The total project cost will be 530 million Euros. The airport construction would start by early 2018 and will be completed in 5 years from the financial closure. The airport will have an operational capacity of 15 million passengers annually," GMR ...

EAC rejects GMR's plan to convert aviation SEZ in multiproduct

EAC felt conversion of SEZ may attract birds which may become hazardous to aircraft at airport

GMR Airports bid for new international airport in Greece

The project involved design, construction, financing, operation and maintenance of the airport for a concession period of 35 yrs

GMR wins $270 million arbitration award in Maldives airport dispute

The award followed a ruling in February which upheld GMR's case, on cancellation of an airport development contract there by the Maldives govt in November 2012

Vodafone, GMR join hands to provide Wi-Fi at Delhi Airport

The service is now launched and available for fliers to use at the IGI Airport following successful trials over three months

GMR to spend $700 mn for airport projects in Philippines, Goa

Airport would be built under the Build Operate Transfer model

GMR wins bid for Goa airport

GMR Group will develop and operate the Rs 3,000-cr Mopa airport in Goa on a public private partnership basis

GMR to invest Rs 471 cr to set up LNG terminal on east coast

Company has proposed for development of LNG facility with capacity of 1.75 MTPA at Kakinada Deep Water Port

GMR awarded damages in Maldives airport arbitration

Infra giant to also get compensation for project loan from Axis Bank