Indian infrastructure developer HCC Infrastructure, a subsidiary of Hindustan Construction Company (HCC), has decided to move into the airports business, a source close to the firm told Infrastructure Investor.
The company is looking to build and operate airports across small cities in India and is currently looking at two to three airport opportunities, the source confirmed. He said the company believes that actual growth in the country will come from growth in smaller cities.
Recently, HCC acquired a 66 percent stake in developer Karl Steiner, a Swiss company with experience in the airports business, having built Geneva airport’s Terminal 3. The source confirmed that HCC will use Steiner’s expertise in winning building contracts in India as well as abroad.
HCC Infra will be the third Indian infrastructure company to enter the airports business, after GMR Infrastructure and GVK Infrastructure. The company invests roughly INR4 billion (€67.4 million; $85.2 million) per year across all infrastructure sectors, media reports suggest.
HCC, of which HCC Infrastructure is a subsidiary, is a construction company based in Mumbai that works in various sectors including transportation, power, marine, oil and gas pipeline construction, irrigation, utilities and urban infrastructure.