Support: +91-22-61011756 / help@projectstoday.com

GMR Airports achieves Concession Commencement Date for airport of Heraklion

Tuesday, 11 Feb 2020
Share this on :
GMR Airports, a subsidiary of GMR Infrastructure, has achieved the Concession Commencement Date (CCD) for design, construction, financing, operation, and maintenance of a new international airport of Heraklion at Crete in Greece.

Prime Minister of Greece Kyriakos Mitsotakis laid the foundation stone of the airport, marking the commencement of the project.

GMR Airports (GAL), along with GEK TERNA, inked concession agreement in February 2019 for design, construction, financing, operation, maintenance and exploitation of the new international airport.

GMR is the first Indian airport operator to win bid to operate a European airport.

The concession period for the project is 35 years, including Phase-I construction of five years. The consortium intends to make an investment of more than EUR 500 million for development of the new airport.

The project is financed through support of government grant and will not require any debts. The entire project will be financed through a mix of equity, accruals from the existing airport, and financial grant being provided by the government of Greece.

 
Post Your Comments
 
 
   
 

 

 
  
Projects Explorer App

Data Explorer - Facade Search - ProjectsToday

Free Trial Access

Get Trial Access

REGISTER AND GET STARTER KIT ABSOLUTELY FREE!

Free access to Project News and Analysis

Project and Tender Alert in your mailbox

Explore the largest Database on Projects for free

Be part of Online Projects Community

Username:

Start Exploring

Subscribe to any of our premium plans to

Access to complete information on 43000+ projects

Use our Notification service for instant update on projects and tenders

Closely monitor your opportunities with "WORKSPACE"

Use our online platform for promotions of your products and services