Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  GMR says Terminal-2 of Phillippines international airport to be completed by 2018
BackBack

GMR says Terminal-2 of Phillippines international airport to be completed by 2018

GMR was chosen to build the airport and operate it for 25 years before transferring it to the government

A file photo of he Mactan-Cebu International Airport (MCIA) in Manila. Photo: Wikimedia CommonsPremium
A file photo of he Mactan-Cebu International Airport (MCIA) in Manila. Photo: Wikimedia Commons

New Delhi: Bengaluru-based infrastructure firm GMR Infrastructure Ltd on Monday said it will finish the construction of Terminal 2 at the Mactan-Cebu International Airport (MCIA) in the Phillippines by 2018.

GMR, which was chosen to build the airport and operate it for 25 years before transferring it to the government, took over operations of the airport on 1 November, 2014. The ground-breaking ceremony to expand and modernize the airport was held on Monday.

“The new terminal will be specifically developed to let the passengers enjoy the Cebuano experience the moment they set foot in Philippines. Given our impressive record of building Delhi airport and Istanbul airports in record time, we are confident that we will open T2 to passengers by mid-2018," Srinivas Bommidala, business chairman airports, GMR Group, said in a statement.

The airport has registered a double-digit traffic growth over 7.2 million registered in 2014, GMR Megawide Cebu Airport Corp. (GMCAC), a joint venture between GMR Infrastructure and Megawide Construction Corp. of Philippines, said.

The development of Terminal 2 and the expansion of MCIA will allow GMCAC to launch more direct international services to Cebu and expand the number of domestic connections so that Cebu becomes a major gateway into the Philippines, it said.

GMR Group owns and operates India’s Delhi and Hyderabad airports. It has also upgraded and is operating the Istanbul Sabiha Gökçen International Airport in Turkey.

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!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 29 Jun 2015, 07:25 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie