Deals

GMR creates holding company for airports business

GMR Infrastructure has set up a separate holding company for its airports business. A source says the restructuring will still take time as GMR’s airport stakes are now ‘moving from entity to entity’.

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Indian firm GMR Infrastructure has decided to set up a company to hold all its airports under one umbrella, a source close to the company told infrastructureinvestor.com.

GMR: creates
airports holding
“The company has already been formed but we are now in the process of restructuring our holding.  It will however take some time for the process to be completed as the [airport] shareholdings are moving from entity to entity,” he added.

Last week the company won the bid to build, operate, modernise and expand the Maldives' Male International Airport in a joint venture with Malaysian Airports. The consortium is expected to invest $360 million in the project, which has a concession period of 25 years.

GMR Group, of which GMR Infrastructure is a subsidiary, is a Bangalore-headquartered global infrastructure firm with investments in airports, energy, highways and urban infrastructure. The group is about to complete the eighth-largest airport terminal in the world – in Delhi – with a floor space of 5.4 million square feet.