GMR to bid for airport projects in Brazil

Male: The Bangalore headquartered GMR Group is set to participate in the modernisation of airports in Brazil, Group Chairman, Mr G.M. Rao has said.
“This will be the first time that GMR Infrastructure will be bidding alone for a project. The Brazil airport (bid) is coming at the end of January. Brazil is only giving 51 per cent equity, they want to keep 49 per cent with the (country's) Airport Authority. We decided to go alone because if we give to Malaysian (airports) then we will not have a majority. Wherever we do projects we want to have majority share holding,” Mr Rao told newspersons invited by the Company to witness the ground breaking ceremony for a new airport terminal in Maldives. GMR is partnering with Malaysian Airport for the modernisation of the Male airport here.
Brazil is taking up the modernisation of airports ahead of the 2014 soccer world cup which the South American country is hosting.
Currently, the GMR Group operates the Hyderabad, Delhi and the Istanbul airports.
22/12/11 Ashwini Phadnis/Business Line

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Categories: airports Dec 2011, Foreign Dec 2011, New Dec 2011