Delhi International Airport Ltd move likely to impact revenue flow to government kitty.
GMR Hyderabad International Airport Limited (GHIAL), promoted by the GMR Group, has devised a three-pronged strategy to improve its revenues in the wake of a dip in the real estate market here, sources close to the development said.
GM Rao has been quite active in philanthropic activities for quite some time through GMR Varalakshmi Foundation.
Indian infrastructure group GMR on Wednesday agreed to buy half of US power producer InterGen for about $1.1bn from an investment firm backed by American International Group and Highstar Capital.
Bangalore-based infra major GMR Infrastructure Ltd has completed divestment of 50 per cent stake in global power generation company InterGen to China Huaneng Group (CHG), said the company.
Punjab Kings batsman Nicholas Pooran will donate a portion of his IPL salary to help the Indian people as the country battles a severe second wave of the COVID-19 pandemic.
Wipro Group chairman Azim Premji, who attended an event organised by an Rashtriya Swayamsevak Sangh body near Delhi on Sunday, said his presence did not mean that he endorsed the view of the forum.
Even after getting the civil aviation ministry's nod to levy user development fee on international passengers, the GMR group-promoted Hyderabad airport has decided not to impose the levy for at least a month. GMR has already decided to exempt domestic passengers for the time being. "We have decided to let issues like groundhandling charges stabilise before taking a call," said a Hyderabad airport executive.
The GMR group-run Delhi and Hyderabad airports have not only been gleaming examples of successful public-private partnerships, but they are also among the country's favourites.
Their coal block bids may be referred to CCI.
GMR-Fraport consortium has hired two international consultants for planning and architecture and is roping in a Tata group company for training employees in housekeeping functions.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Private players GMR and GVK groups formally took charge of the managements of the Delhi, Mumbai airports with a view to make them world-class airports.
Bilateral investment treaties can adversely impact policy space for governments
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
A colourful skyline and hundreds of kites soaring across various parts of the city marked an innovative launch of Delhi Daredevils' new look and new journey ahead of the seventh edition of the Indian Premier League.
IPL team owners have also bought all six franchises of South Africa's new domestic T20 league, while three IPL franchise owners
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
Jet Airways Executive Director Saroj K Datta declined to comment, stating he has not got any circular from DIAL.
The Ambani brothers, Tata group, GVK Group, GMR Group and Larsen & Toubro are among the top players bidding for the greenfield Navi Mumbai airport, the second airport project in Mumbai.
The German company presently holds 10 per cent in the joint venture
After losing out to Bangalore-based GMR group for the controversial Delhi airport modernisation contract, Anil Dhirubhai Ambani group is now set to battle it in Prague, the capital of the Czech Republic, for which bids are shortly to be invited. Late last week, ADAG company Reliance Airport Developers Private Limited submitted an expression of interest to the Prague airport authorities. the ADAG company is willing to take a 100 per cent stake in the airport.
Such a disruption will take the clock back by many years - in terms of passengers handled - for these airports, thus raising questions among some of the airport operators over a delay in expansion plans.
'This kind of a last minute order creates immense problems for airlines.'
The likes of SRK, Nirula and Mallya are in the race to own an IPL team for the upcoming Twenty20 series.
Aviation Minister Praful Patel's outburst against Planning Commission Deputy Chairman Montek Singh Ahluwalia is perhaps not difficult to understand since most people think it was actually Patel who should have been keeping an eye on the delays at the Delhi airport.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
The Delhi Daredevils, IPL's Delhi team which is owned by the GMR Group, has recruited a student of the Postgraduate Programme in Public Policy and Management (PGP-PMP) from the institute to manage its operations. Colonel Vinod Bisht, the student, has been hired as assistant vice-president (operations) for the company for a Rs 30-40 lakh package.
Company working on 'win-win' solution.
Risk perceptions will impact India's risk-rating, say experts.
The finance ministry has opposed the proposed airport at Greater Noida, and has instead favoured upgrading infrastructure at Delhi airport, which it says makes more economic sense. This has come as a shot in the arm for the GMR group, the private sector developer of Delhi airport, which has been opposing another airport so close to the existing one.
Audit firm PricewaterhouseCoopers, which has major companies like HCL Infosystems, GMR Group, Bosch, and Maruti Suzuki among its over 100 clients in India, faces a possible axe after its role has come into question in the Satyam fraud case, of about Rs 7,800 crore (Rs 78 billion).
Conglomerate has become the first corporate house in India's history to adopt a historical monument, in a Rs 250 mn contract spanning five years.
In fact, it is estimated that by 2026, over one-third of Delhi's total projected traffic (82.7 million) will be diverted to Greater Noida airport (28.4 million), and by 2036 when DIAL expects to handle nearly 100 million traffic, Greater Noida will attract 82.7 million passengers.
Each airline operating out of Delhi is expected to get separate terminal space and a third full-fledged runway is to be constructed at the Indira Gandhi International Airport when the first phase of its modernisation is completed by 2008.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
Bollywood actor Akshay Kumar was on Monday roped in as brand ambassador of the Indian Premier League's 'Delhi Daredevils' team.
Only 9 per cent of the over 2,300 employees of the Airports Authority of India (AAI) working in Delhi airport have opted for a voluntary scheme to join the GMR group-promoted Delhi International Airport Ltd (DIAL), the public-private joint venture that is modernising the airport.
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
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