GMR Group is currently investing Rs 20,000 crore to expand the existing airports and develop new aerodromes.
GMR’s airport business comprises four operating airports – Indira Gandhi International Airport, Delhi; Rajiv Gandhi International Airport, Hyderabad; Bidar Airport, Karnataka; and Mactan Cebu International Airport in the Philippines.
Further, two assets Greenfield Airports at Mopa, Goa and Crete International Airport, Greece are under construction. The group has also signed the concession agreement for a Greenfield Bhogapuram International Airport in Andhra Pradesh in June 2020 and development works are currently in progress.
Currently, Delhi Airport is undergoing expansion of its airside infrastructure and terminal capacity to 100 million passengers annually. The entire Phase 3A expansion is now planned to be completed by June 2023.
Further, to meet the anticipated funding needs of the expansion project and repay the USD 289 million bond maturing in FY22, Delhi Airport raised USD 450 million in the form of overseas Green bonds.
The Hyderabad Airport has already commissioned four rapid exit taxiways and completed rehabilitation works of the main runway in Q1/FY22 as part of its capital expansion works.
Construction and development works at Goa Airport, resumed at site in February 2020 post the reaffirmation of environmental clearance to the project by the Supreme Court. The airport is expected to be commissioned by August 2022.
The development works, including earthworks, are in progress at Bhogapuram International Airport post-signing the concession agreement with the Andhra Pradesh government for the greenfield airport in June 2020.