GMR Infra may expand Petronas agreement

Bangalore: GMR Infrastructure, the publicly held infrastructure developer based here, is understood to be working towards expanding its pact with Petronas, the Malaysian oil & gas major, for its power division.
The move would deepen GMR Infra’s ties with Malaysia. It has Malaysia Airports as an equity investor in all its four airport projects.
The airports and power divisions bring in close to 85 per cent of the Rs 6,000-crore annual revenue. GMR has four international airport assets under its management and 17 in power, four operational and 13 in various stages of implementation. These are expected to generate cumulatively 8,000 Mw in the near future.
As part of expanding the pact with state-owned Petronas, GMR is understood to be in discussion with the former on diverse aspects, including getting the know-how of sourcing gas and looking at tapping Petronas’ global supply for various projects. Petronas is the national oil and gas company of Malaysia and is wholly owned by the government of Malaysia. A fully integrated oil & gas company, it is engaged in a broad spectrum of upstream and downstream oil and gas and petrochemical operations, in a little over 30 countries.
“There are a whole lot of possibilities which will open up as we discuss with Petronas. Gas-fired power stations will be a major driver of power generation. Petronas has in-depth expertise in this and we plan to tap into that resource,” a senior official of GMR Infra told Business Standard. An official spokesperson, though, would not comment.
05/12/11 Business Standard

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Categories: airports Dec 2011, Foreign Dec 2011