GV Sanjay Reddy, vice chairman of GVK Power & Infrastructure , has big ambitions for the company's airport business. He wants to be one of the largest players in the global airport sector, growing GVK's airport unit to be a 200 million-passenger-per-year business within five years. The company is involved in two airport projects in Indonesia, but the jewels in its crown are definitely in India, where GVK operates the airports in two of the biggest cities in the country: Mumbai and Bangalore. "Bangalore is the fastest growing airport in India, Mumbai is also growing at a very good pace," Reddy told CNBC. "The Civil Aviation Industry of India said the current passenger traffic in India is about 160, 170 million passengers, and that's expected to grow to about 500 million passengers in the next 10 to 12 years. So there's a huge potential upside for the business."
India is suffering from an infrastructure deficit. The World Bank estimates that the country will need to spend up to USD 1.7 trillion by the end of the decade to fix its crumbling infrastructure, and improve its roads, rail, ports and power utilities.
24/11/15 CNBC/moneycontrol.com
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India is suffering from an infrastructure deficit. The World Bank estimates that the country will need to spend up to USD 1.7 trillion by the end of the decade to fix its crumbling infrastructure, and improve its roads, rail, ports and power utilities.
24/11/15 CNBC/moneycontrol.com
