GMR targets ₹20,000-cr investment in aviation sector

GMR Group has planned to invest ₹20,000 crore to expand the existing airports and develop new aerodromes. Chairman, GM Rao informed that GMR has four operating airports- Indira Gandhi International Airport, Delhi, Rajiv Gandhi International Airport, Hyderabad, Bidar Airport, Karnataka, and Mactan Cebu International Airport in the Philippines. Two assets greenfield airports at Mopa, Goa, and Crete International Airport in Greece are under construction. It has signed the concession agreement for the greenfield Bhogapuram International Airport in Andhra Pradesh.

Delhi Airport is undergoing an expansion of its airside infrastructure and terminal capacity to 100 million passengers annually. The entire Phase 3A expansion is expected to be completed by June 2023. To meet the funding needs and to repay the USD 289 million bond maturing in FY '21- 22, Delhi Airport raised USD 450 million in the form of overseas green bonds.

The Hyderabad Airport has commissioned four rapid exit taxiways, completed the rehabilitation work of the Main Runway in the first quarter of the current fiscal. GHIAL will complete its expansion to a capacity of 35 million passengers annually by September 2022.

Construction and development work at Goa Airport resumed in Feb 2020 post the reaffirmation of environmental clearance by the Supreme Court. It is expected to be commissioned by August 2022. The development works including earthworks are in progress at Bhogapuram International Airport, shortly after signing the concession agreement with the AP Government for greenfield airport in June 2020.