Tuesday, November 22, 2016

GMR Airports Submits Bid for New International Airport in Greece

India - Bid submitted in consortium with GEK Terna Group of Greece
- The bid is for Development, Operations and Management of the new airport for a concession period of 35 years

GMR Infrastructure Limited, India's leading Infrastructure Company, today announced that its subsidiary, GMR Airports Limited (GAL), has submitted the bid along with its partner GEK Terna Group of Greece for the Development, Operations and Management of New International Airport of Heraklion at Crete Island, Greece.

The scope of the project involves Design, Construction, Financing, Operation & Maintenance of the airport for a concession period of 35 years.

GEK Terna Group is a leading Greek Infrastructure company having presence in Construction, Energy, Mining, Waste management, Concessions, Real Estatedevelopment & facilities' management. It is understood that this is the sole bid for this concession.

Upon award, GAL will be the airport operator for this project. Under the Bid conditions, it is mandatory for theairport operator to hold a minimum of 10% equity stake in the consortium.

Commenting on the development, a GAL Spokesperson, said: 'The bid submission is in line with the GMR Group's asset light growth strategy with value build up from this project coming to GMR more from leveraging the airport platform, leading to enhanced revenue based services, than just equity.
21/11/16 MenaFn

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