GMR to invest $2.7bn on airports’ expansion and development in India

India’s GMR Group has announced plans to invest around $2.7b for the expansion of its current airports and the development of new aerodromes. The company is currently operating four airports, namely Indira Gandhi International Airport in Delhi, Rajiv Gandhi International Airport in Hyderabad, Bidar Airport at Karnataka and Mactan Cebu International Airport in the Philippines. In the group’s latest annual report, GMR Group chairman Grandhi Mallikarjuna Rao said: “GMR Group has set benchmarks for the development of world-class airport infrastructure.” In June 2020, the group signed a concession agreement for a Greenfield Bhogapuram International Airport in Andhra Pradesh, and development works are currently in progress. The company also stated that Greenfield Airports at Mopa, Goa; and Crete International Airport in Greece are under construction.<br/>