GMR Infra emerges as H1 bidder for Nagpur airport project
GMR Airports Limited, a subsidiary of GMR Infra Limited has informed the exchanges that it has emerged as the highest bidder for the privatization project to be carried at Nagpur Airport. This project will be developed on a Public Private Partnership PPP basis.
The project includes the development, operations and management of the airport. The company is expecting Letter of Award from the authorities, shortly. The project is undertaken by MIHAN India Limited, a joint venture between Maharashtra Airport Development Company (a Government Of Maharashtra Undertaking), Airport Authority Of India (AAI). This project involves up-gradation, modernization, operation and maintenance of Nagpur Airport for a period of 30 years and includes construction of a new terminal amongst other works.
In FY2017-18, the Nagpur Airport had handled 2.18 million passengers and 7,800 MT cargo showing CAGR growth of 11 per cent over a period of five years. Nagpur is located strategically at the geographical centre of India. It is the 13th largest city in India. Nagpur is fast emerging as a major logistics and aerospace hub along with a major manufacturing base.
GMR Group, a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. In airports segment GMR group has a portfolio of 159 mn passenger capacity in operation and under development, comprising of India's busiest Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport, Mactan Cebu International Airport in partnership with Megawide in the Philippines.
On Monday, at 10.29 hours, the stock was trading Rs. 16.60 per share, showing an uptick of 2.47 per cent. While the benchmark index BSE Sensex was trading at 36,150 down by 77 points.