GMR Group achieves financial closure for Malé airport

Bangalore: GMR Malé International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GIL), on Thursday said it has achieved financial closure for the project to modernise, expand and operate the Malé International Airport. Earlier this year on June 24, the consortium led by GIL with Malaysia Airports Holdings Berhad (MAHB) had won the concession for the Malé Airport for a period of 25 years.
GMIAL is the special purpose vehicle formed in Maldives pursuant to the concession in which the stake of GIL and MAHB is 77 per cent and 23 per cent, respectively.
The total cost of the modernisation and expansion project, estimated at USD 511 million, is being funded through a combination of debt and equity in the ratio of 70:30.
25/11/10 Press Trust Of India/Hindustan Times

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Categories: Airports Nov 2010, Foreign Nov 2010, New Nov 2010