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GMR to spend $700 mn for airport projects in Philippines, Goa
Posted on 7th September 2016
Diversified group GMR on Wednesday said it plans to spend $700 million on airport projects in Cebu, the Philippines and Goa in a little over three years.

Currently, GMR is operating airports in the national capital, Hyderabad and Cebu under different public private partnerships.


GMR wins bid for Goa airport
Posted on 27th August 2016
GMR group, which runs Delhi and Hyderabad airports, has won the bid to develop and operate the Rs 3,000-crore Mopa airport in Goa on a public private partnership basis with the state government.

The GMR group, which is nearing completion in building the eighth largest airport terminal in the world in Delhi, with a floor space of 5.4 million sq ft, agreed to share 36.99% of the airport's gross revenue with the Goa government.


GMR Energy offloads stake to Adani Transmission for Rs 100 cr
Posted on 1st July 2016
GMR Energy today announced stake sale in two of its transmission projects to Adani Transmission for equity consideration of Rs 100 crore.

“GMR Energy (GEL), a subsidiary of GMR Infrastructure (GIL), has entered into definitive agreements with Adani Transmission (ATL) wherein GEL has agreed to transfer the interest in its transmission projects – Maru Transmission Services (MTSL) and Aravali Transmission Services (ATSL) – to ATL,” GMR said in a BSE filing.


GMR Infra not to sell controlling stake in Hyderabad Airport
Posted on 17th June 2016
GMR Infrastructure today denied selling controlling stake in Hyderabad Airport but added that it is exploring opportunities to raise funds.

"We completely deny sale of controlling stake in Hyderabad Airport..We wish to submit that GMR Group has been continuously exploring opportunities to raise necessary funds for the group," GMR Infrastructure said in a clarification to the BSE.


GMR Infrastructure rises after consortium wins freight corridor project
Posted on 8th June 2016
Shares of GMR Infrastructure were up nearly 3% at Rs 11.85 on the Bombay Stock Exchange after the company said that a consortium led by the company has won the 221 KM Eastern Dedicated Freight Corridor project.

The consortium has been issued a Letter of Award for the railway project at a cost of Rs 2280.70 crore on engineering, procurement and construction basis, the company said in a release.


GMR Infrastructure posts bigger-than-expected Q4 loss, shares fall
Posted on 31st May 2016
Mumbai: GMR Infrastructure Ltd on Tuesday reported a wider-than-expected loss for the fourth quarter ended 31 March, sending its shares down as much as 5.3%.

Consolidated net loss in the fourth quarter widened to Rs.953.50 crore from Rs.891.90 crore a year earlier, hurt in part by total expenses, which rose 26.5% to Rs.3,350.36 crore. Net sales rose 29% to Rs.3,708.37 crore from Rs.2,872.01 crore in the year earlier quarter.


GMR’S bid to monetise 2m sq feet at IGI Airport could be a damp squib
Posted on 27th May 2016
With a couple of big mall developers unlikely to put in financial bids, GMR Infrastructure’s auction to monetise 2 million sq ft of space at Delhi’s Indira Gandhi International Airport could turn out to be a damp squib, people familiar with the development told FE. Both the mall builders had qualified at the request for qualification stage.

What appears to have given players cold feet is the fairly large investment needed, an estimated amount of nearly Rs 2,000 crore.


GMR Infra announces SDR
Posted on 14th May 2016
GMR Rajahmundry Energy (GREL), a subsidiary of GMR Infrastructure, has said that in the absence of long-term fuel supply agreements and long-term power purchase agreements, a consortium of lenders has adopted the strategic debt restructuring (SDR) scheme.

Accordingly, in a meeting held on Friday, the company issued equity shares proportionately to all the lenders.


GMR divests 30% in energy assets
Posted on 10th May 2016
Bengaluru-based GMR Group will disinvest 30 per cent in its 10 energy assets to a Malaysian power utility for $300 million (Rs 2,000 crore).

The management committee of GMR Infrastructure Limited (GIL) on Monday approved the primary capital investment by Tenaga Nasional Berhad (Tenaga) in GMR Energy Limited (GEL).


GMR to sell 51% in road venture to cut debt by Rs 1,000 cr
Posted on 26th March 2016
GMR Infrastructure Limited and GMR Highways Limited have signed a share purchase agreement with joint venture partners to divest 51 per cent stake in GMR OSE Hungund Hospet Highways Private Limited (GOHHHPL).

GMR OSE operates the Hungund-Hospet section of National Highway No 13, which is a 99-kilometre (km) project in Karnataka, which was won by the GMR OSE consortium in 2010 on 'design, build, finance, operate, and transfer' basis.


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