BackGMR bids for developing airport in Greece
GMR Airports Ltd and GEK Terna have bid for the development, operations and management of the new international airport of Heraklion at Crete Island, Greece
Premium
New Delhi: GMR Infrastructure Ltd has put in a bid for developing an airport in Greece along with Greek partner GEK Terna Group, the company said on Friday.
GMR Airports Ltd and GEK Terna have bid for the development, operations and management of the new international airport of Heraklion at Crete Island, Greece.
“It is understood that this is the sole bid for this concession," GMR Infrastructure said in a release. Upon award, GMR Airports would be the airport operator for this project, it added.
Heraklion airport, located in Crete and the second largest in Greece, is facing capacity constraint. According to the release, Heraklion aerodrome would be closed once the new airport is operational. “The scope of the project involves design, construction, financing, operation and maintenance of the airport for a concession period of 35 years," it added.
The bid submission is in line with the group’s asset light growth strategy with value build up from this project coming to GMR more from leveraging the airport platform, leading to enhanced revenue based services, than just equity," a GMR Airports spokesperson said.
Currently, GMR operates airports in the national capital and Hyderabad apart from securing the right to develop and operate Mopa aerodrome in Goa. Besides, GMR Infrastructure in partnership with Megawide Construction Corp. is developing Mactan Cebu international airport in the Philippines.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
