GMR gets Rs 520 cr from IIFCL for Delhi airport

Bangalore: GMR Infrastructure has raised around Rs 520 crore of debt from India Infrastructure Finance Co Ltd (IIFCL) for modernising Delhi Intetrnational Airport. Sources said the company, based in this city, raised a total of around Rs 2,600 crore to fund the modernisation plan, including the debt from IIFCL.
Queries to GMR remained unanswered. It has a total debt of Rs 9,283 crore for the airport arm, of the total net debt of Rs 15,300 crore.
Delhi International Airport Ltd (DIAL) is a joint venture consortium of the GMR Group, with majority holding of 54 per cent, Airports Authority of India with 26 per cent, and Frankfurt airport operator Frafort AG and Eraman Malaysia with 10 per cent each. While GMR is the lead member of the consortium, Fraport AG is the airport operator in this project. The project, being developed under a public-private partnership model, has an initial concession period of 30 years, extendable by another 30 years.
16/02/11 Debasis Mohapatra/Business Standard

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Categories: Airports Feb 2011