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GMR-Megawide lowest bidder for $250-million airport project in Philippines
Posted on 15th December 2017
HYDERABAD: The GMR Group today said it along with its partner Philippines-based Megawide Construction Corporation emerged as the lowest bidder for the USD 250 million Clark International Airport project in the southeast Asian nation.

Clark airport is being developed by Government of Philippines through a hybrid model with EPC and O&M tenders being issued separately.

GMR, partner in race for $250 mn airport project in Philippines
Posted on 7th December 2017
A GMR group company along with its partner, Manila-based Megawide, is in the race for the $ 250 million Clark International Airport new terminal building project in Philippines.

According to a statement issued by the Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA) of the southeastern nation, seven firms submitted the bid documents for the design, engineering, and construction of the Clark International Airport new terminal building in Philippines.

GMR Infrastructure Q2 standalone net loss narrows to Rs276 crore
Posted on 23rd November 2017
New Delhi: GMR Infrastructure Ltd’s standalone net loss for the September quarter narrowed to Rs276.41 crore due to a fall in provision for diminution in value of investments and advances.

The company had reported a net loss of Rs700.34 crore in the year-ago period. Its total revenue declined to Rs206 crore as against over Rs331.22 crore a year ago, GMR Infrastructure said in a BSE filing on Wednesday.

Malaysia Airports, GMR plan funds for expansion
Posted on 27th October 2017
HYDERABAD: Airport developer and operator GMR, and its equity partner Malaysia Airports Holdings Berhad, are looking at setting up investment funds for their next phase of global expansion.

While the size of Malaysia Airports' investment fund would be around $1.5 billion, GMR is yet to announce the size of its fund.

GMR to spend $75 mn of bond money on Hyderabad airport expansion
Posted on 23rd October 2017
GMR Hyderabad International Airport Limited(GHIAL) will utilise $75 million (close to Rs 490 crore) out of the total $350 million (Rs 2,276 crore) that it has raised in the international bond market on capital expenditure for the airport expansion. The rest of the proceeds will be used to refinance the existing debt.

GMR Airports Limited president Sidharath Kapur on Monday elaborated on the fund utilisation plan of the subsidiary company after broadly indicating the purpose of $350 million bonds issue couple of days ago.

GMR Hyderabad International Airport to raise Rs 2,276 crore global bonds
Posted on 21st October 2017
HYDERABAD: GMR Hyderabad International Airport has announced raising $350 million, or about Rs 2,276 crore, in the international bond market, reflecting the third consecutive US dollar bond offering by GMR Group.

GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and step down subsidiary of GMR Infrastructure, in a statement on Friday said it plans to entirely refinance the outstanding rupee term loans and external commercial borrowings, apart from deploying them towards partial funding of proposed capital expenditure.

GMR Hyderabad International Airport to start $300 mn-$350 mn bond issue roadshows
Posted on 11th October 2017
GMR Hyderabad International Airport (GHIAL) will commence roadshows for its $300-350 million dollar bond issue beginning Wednesday in New York, London, Hong Kong and Singapore, sources aware of the matter have confirmed with FE.

“It will be a 144A issue and the tenure of the bond is likely to be 10 years. The issue will be a high yield,” a banker aware of the deal said. A 144A issue is a deal in which US investors can also take part.

GMR eyes airport projects in Europe, South East Asia and East Asia
Posted on 12th September 2017
GMR Group, which operates three airports in India and abroad, is eyeing projects in South East Asia, East Asia and Eastern European countries besides looking for operations and maintenance of Jaipur and Ahmedabad aerodromes.

"Airport business, going forward, can be a significant growth engine for the group. In line with our growth strategy, the Group is actively pursuing suitable airport opportunities in India as well as globally," GMR said in its latest annual report.

Delhi airport ruling puts GMR back on investor radar
Posted on 23rd August 2017
After a game of patience, GMR Infrastructure Ltd’s sustained focus on airports is slowly paying off. Return on investments in airports’ development and maintenance is improving, as regulations are being eased and traffic at key airports is rising.

On Tuesday, the company detailed its expansion plans for its prized asset, Delhi International Airport (Pvt.) Ltd (DIAL), where it leads the consortium. A 60% increase in capacity for passenger traffic and increase in cargo handling infrastructure, besides world-class facilities, will be done in three phases over a decade. Although this would imply cost increases in the near term, it would gradually ramp-up revenue and profit. In fact, June quarter passenger traffic at Delhi airport grew by 14%.

GMR finds buyer for its barge-mounted power plant for $ 63 mn
Posted on 16th August 2017
The GMR Group, which owns a 220 MW gas based power plant in Andhra Pradesh’s Kakinada, will sell its barge-mounted power plant to a buyer for $63 million. According to a regulatory filing, the infrastructure major has said that GMR Energy Ltd (GEL) will enter into a definitive agreement with the buyer soon. The filing, however, did not reveal the buyer’s name. “GEL has entered into a memorandum of undertaking with an external party for sale of its 220 mw gas based power plant for a consideration of $6.3 crore and is in the process of entering into a definitive agreement and conclude the sale,” the filing said.

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