The company has already done the due diligence of the project to upgrade the Hanimaadhoo airport at Upper North Province of Maldives which is nearly 300 kilometres from the national capital Male.
The brand new terminal at the Indira Gandhi International Airport of New Delhi marks the culmination of a long journey for Grandhi Mallikarjuna Rao.
The transaction was concluded on March 28 after getting all the necessary approvals, the company said in a statement.
The Rs 31,000-crore refinery and petrochemical plant being planned by Oil and Natural Gas Corporation in Kakinada in Andhra Pradesh is likely to have a new partner -- the Bangalore-based GMR group. GMR is the latest to join the long line of suitors, including the Hinduja group, Reliance Industries and Essar Oil, for the refinery.
Four Indian Premier League (IPL) franchise owners were on Wednesday confirmed as "strategic partners" by the England and Wales Cricket Board (ECB) for teams in 'The Hundred' and will gain operational control by October 1 this year.
GMR Group on Friday said it will divest its entire 40 per cent stake in Cebu international airport in Philippines for an upfront payment of Rs 1,330 crore as well as earnouts to be received over a period of more than four years. The airport is being operated by GMR-Megawide Cebu Airport Corporation (GMCAC) and GMR Airports International BV (GAIBV) holds a 40 per cent stake in the venture. A definitive agreement has been signed between GMR Airports International BV (GAIBV) and Aboitiz InfraCapital Inc (AIC) for the divestment of stake in Cebu airport.
Rajiv Gandhi International Airport in Hyderabad introduces a 'Therapy Dog Program' featuring Toy Poodles to enhance passenger experience and ease travel-related anxiety.
Ganguly joined Delhi Capitals in 2019 as an advisor, where he worked alongside coach Ricky Ponting, and later returned to the franchise as Director of Cricket after his stint as BCCI president.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
The Hundred looking to feed off IPL's "phenomenal growth" after drawing Indian investment
Out of the total amount, Rs 9,780 crore would be towards secondary sale of shares by GMR group and Rs 1,000 crore would be equity infusion in GAL.
Hampshire became the first county championship club to be owned by an overseas franchise.
'Delhi airport handles 1,450 aircraft movements per day. Of these, 114 daily movements will be cancelled during the runway upgrade.'
While GBP 50 million is earmarked for grassroots and recreational cricket, the 18 English county teams will get a share of GBP 470 million with larger pie allocated for those clubs that don't own a 'Hundred Franchise'.
The deal will give India's largest conglomerate indirect stakes in seven airports in India and abroad.
GMR Group is currently investing Rs 20,000 crore to expand the existing airports and developing new aerodromes, GM Rao, chairman of the infra major has said. "Airport Development and Construction: GMR Group has set benchmarks for development of world class Airport infrastructure... Your company is currently investing approximately Rs 20,000 crore to expand the existing airports and develop new Aairports," he said in the group's latest annual report. GMR's airport business comprises four operating airports - Indira Gandhi International Airport, Delhi, Rajiv Gandhi International Airport, Hyderabad, Bidar Airport at Karnataka and Mactan Cebu International Airport in the Philippines.
A senior executive of GMR group confirmed that both the companies were keen to get out of the venture. Fraport has already closed its development office in India.
Kiran Kumar Grandhi, 38, was earlier in charge of the urban infrastructure and highways business, which contributes five per cent of the Rs 10,000-crore revenue of GMR Infra.
GMR Infrastructure is part of a consortium led by Philippines-based construction company Megawide Construction which submitted a bid of 14.4 billion Philippine pesos or around $326 million.
GMR Energy, the holding company of GMR group's power business, said on Tuesday it will set up a 1,000 MW coal-based power project in Chhattisgarh.
GMR Group-led DIAL, which manages and operates India's largest airport, recently requested the AERA to double the user development fee (UDF) for international business and first-class travellers compared to economy and premium economy over the next four years. It has also sought higher UDF for all domestic passengers flying during peak hours -- 5 am-8:55 am and 5 pm-8:55 pm.
Bengaluru-based GMR Infrastructure bought 50 per cent of InterGen in 2008 for USD 1.1 billion from a fund owned by American International Group Inc.
25% each in the holding company to give them indirect control of 17.5% each in GMR Infra
It is business as usual at Ibrahim Nasir airport; Maldives to retain staff hired by GMR.
Anti-Corruption Commission rules out graft.
According to the agreement, RuralShores, one of the largest rural BPO organisations in the country, would be establishing GMR's BPO at Kakinada SEZ in the East Godavari district of Andhra Pradesh.
GMR was misled by the (predecessor) Nasheed administration to signing a legally unsustainable agreement, says Maldives president, Mohamed Waheed.
The Bangalore-based GMR group has bought out the stakes of US power majors CMS Energy and Public Service Enterprise Group in Tanir Bhavi and Basin Bridge power plants in Karnataka and Tamil Nadu, respectively.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
'GMR Group today signed an agreement with the international power producer InterGen to acquire its 100 per cent ownership stake in Island Power,' GMR Infra said in a filing to the Bombay Stock Exchange. Island Power is currently developing an 800 MW power facility in Singapore. The project would bring in about $1.5 billion (Rs 72 billion) foreign direct investment in the country.
Large proportion of the international traffic is also diverted through other airports due to lack of operational facilities for convenient links through Hyderabad.
Narayana Murthy said reality is 'what you make.'
Considers bidding for Barcelona, Madrid airports; may rope in local partner.
Infra major's entry could queer the pitch for Jaypee and Hindustan Semiconductor.
The Tamil Nadu government on Monday entered into a joint venture with Hyderabad-based GMR Infrastructure Ltd to set up a multi-product Special Economic Zone in the state's Krishnagiri district at a cost of Rs 2,300 crore (Rs 23 billion).
Mumbai Indians, Kolkata Knight Riders, Rajasthan Royals, Sunrisers Hyderabad and Lucknow Super Giants are among the IPL franchises who have submitted bids.
Delhi International Airport, a subsidiary of GMR Infrastructure, will absorb all general employees of Airports Authority of India, working at Indira Gandhi International Airport, New Delhi. There are over 2,300 general employees of AAI.
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