Partnership21 Dec 2023, 10:46 pm
NIIF to Invest Up to INR 6.75 Billion in GMR Visakhapatnam International Airport Limited
AI Summary
GMR Airports Limited and NIIF have entered into binding agreements for NIIF to invest up to INR 6.75 billion in GMR Visakhapatnam International Airport Limited, a special purpose vehicle to develop and operate the Bhogapuram International Airport in Andhra Pradesh.,
Key Highlights
- NIIF to invest up to INR 6.75 billion in GMR Visakhapatnam International Airport Limited
- Bhogapuram International Airport to be developed and operated by GMR Airports Limited and NIIF
- Second airport investment by NIIF after investment in GMR Goa International Airport Limited
- GMR Visakhapatnam International Airport Limited to be developed under a 40-year Design-Build-Finance-Operate-and-Transfer model