GMR Group not interested in small airport projects now

New Delhi: The GMR Group, which till a few years ago was into diverse fields like banking, insurance and breweries, is now focusing on agro and infrastructure. The Group Chairman, Mr G.M. Rao, spoke to the media shortly after receiving the TERI Corporate Social Responsibility award from the President, Ms Pratibha Patil, here on Friday,
The Government is keen that private sector gets involved in developing smaller greenfield airports. Is the GMR group interested in smaller airports?
As of now our strategy is not to go for small airports projects. We want to go for bigger airports where more than 5 million passengers travel. We want to be at airports where we not only undertake development work but also operations. That is our strategy now. We are ready to go for bigger airports not only in India but also abroad.
What are the priorities for the Group?
Our Group is focusing on two areas – infrastructure and agro, two things which are important for the national economy.
We have diluted all other businesses like banking, insurance and brewery.
We are in the infrastructure business because it has huge opportunities.
Has the group set aside funds for road projects?
We have not allocated anything specific but it is based on opportunity. We have already allocated Rs 2,500 crore for the Hyderabad-Vijayawada project.
Later we may look at another two projects.
08/06/09 Business Line

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Categories: Airports Jun 2009, New Jun 2009