India News
Search Web Directory
News Home
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.

"We have plans of spending another $700 million (over Rs 4,600 crore) for Cebu and Goa airports," GMR Airports President (Finance and Business Development) Sidharath Kapur said.

He was speaking at the inaugural session of Global Airport Development (GAD) conference — which is taking place under the aegis of GMR Airports Ltd and Delhi International Airport Ltd (DIAL) — here.

According to the concession agreement signed between GMR Megawide Consortium (GMCAC) and Philippines' Department of Transportation and Communication (DOTC), the former has taken operational control for renovation & modernisation of Mactan Cebu International Airport (MCIA) from November 2014, according to GMR website.

Last month, GMR Airports won the bid for development and operation of Mopa green field airport in North Goa. The concession period for the project would be 40 years with a possible extension of another 20 years through a bid process.

The airport would be built under the BOT (Build Operate Transfer) model.

On Tuesday, Kapur said DIAL, the joint venture firm, which operates the aerodrome in the national capital, was looking to raise up to Rs 3,000 crore, including through Masala bonds to refinance debt.

Related Companies: GMR Group   

Other Latest News
'The Lion King' breaks many box-office records with massive collection
Posted on 22nd July 2019
Los Angeles: If there was any doubt that the 2019 box office belonged to the Walt Disney Co., this weekend put an end to it. Not only did its photorealistic remake of "The Lion King" devour opening weekend records for the month of July and PG-rated films, but "Avengers: Endgame" also crept past "Avatar" to become the highest-grossing film of all time.

P.V. Sindhu loses Indonesia Open final to Japan’s Akane Yamaguchi
Posted on 22nd July 2019
Star badminton player P.V. Sindhu had to be content with a runner-up finish at the Indonesia Open after losing the title clash in straight games to Japan’s Akane Yamaguchi, in Jakarta on July 21.

Sindhu lost the final of the BWF Tour Super 1000 tournament 15-21 16-21 to the fourth seed.

Sensex plunges over 400 pts; HDFC Bank cracks 3%
Posted on 22nd July 2019
Domestic equity benchmark BSE Sensex plunged over 400 points in early trade on 22 July amid heavy foreign fund outflow and weak domestic as well as global cues.

The 30-share index was trading 373.14 points or 0.97% lower at 37,963.87 at 09:30 a.m.; and the broader Nifty also sank 116.80 points or 1.02% to 11,302.45.

Cipla arm InvaGen Pharma gets USFDA nod for neuropathic pain management drug
Posted on 22nd July 2019
Drug major Cipla Monday said its subsidiary InvaGen Pharmaceuticals has received final approval from the US health regulator for Pregabalin Capsules, indicated for management of neuropathic pain associated with certain illnesses.

InvaGen has received approval from the the United States Food and Drug Administration (USFDA) for the drug in the strengths of 25mg, 50mg, 75mg, 100mg, 150mg, 200mg, 225mg and 300mg, Cipla said in a regulatory filing.

BSNL revival: Govt readies Rs 74,000 crore plan for bleeding telco
Posted on 22nd July 2019
The department of telecommunications is pushing for a Rs 74,000-crore revival package for the loss-making BSNL and MTNL on the ground that closing them down would cost higher — around Rs 95,000 crore. The assumption behind the revival package, which involves an attractive VRS package to BSNL’s 1.65 lakh employees, reducing the retirement age from the current 60 years to 58 years, will cut the wage bill of the company which in FY19 was 77% of its revenues.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for GMR to spend $700 mn for airport projects in Philippines, Goa
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for GMR to spend $700 mn for airport projects in Philippines, Goa

Most Read News

Punjab CM Amarinder Singh accepts Navjot Singh Sidhu’s resignation

China urges India to join war against protectionism amid trade spat with US

Raghuram Rajan signals Brexit politics deterred him from seeking BOE job

RIL Q1 net up 7% at Rs 10,104 crore; Jio, retail boost revenues by 22%

NZ vs ENG: Cricket World Cup 2019 | Kiwi fans on the outer for thrilling cricket finale

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement