Istanbul: GMR Group, which has bagged an airport modernization project in Istanbul, will announce a strategy in a few months on how they wish to embark on their overseas operations that include building airports and power projects.
“We are working out a strategy for international business which will outline the countries we plan to work with, the areas we wish to engage ourselves in and the kind of partnerships we are entering,” GMR Group chairman G M Rao told PTI here.
A strategy is needed in international business because the group wants to create value for stakeholders, Rao said, adding that it has already appointed Ranjit Murugason as CEO of International Business Division, based in London.
Rao said the strategy will scan whether the group should go for greenfield or running projects in areas of power and airports.
GMR Group has been given a 20-year licence to operate Istanbul Sabiha Gokcen International Airport through a consortium comprising two other firms.
When asked whether the group has a particular figure for investment in international operations, he said the numbers would be mentioned in the operating plan, which would come after the strategic plan.
The group would also come out with a strategy on urban infrastructure, Rao said, but added that it would focus only on Indian markets. “In urban infrastructure, we are not looking internationally, only in India,” he said.