Deals13 Aug 2025, 11:01 pm
GMR Airports Receives LOIA for Cargo City Project at Delhi Airport
AI Summary
GMR Airports Limited has received a Letter of Intent to Award (LOIA) from Delhi International Airport Limited (DIAL), its Indian subsidiary, for the development of a Cargo City at the Indira Gandhi International Airport, New Delhi. The project, spread over 50.5 acres, is based on a revenue share payment model with a minimum monthly guarantee payable to DIAL for an initial period of upto year 2036, amounting to an estimated aggregate of Rs. 415.74 crores. This transaction is a related party transaction on arms’ length basis and necessary approvals were obtained in accordance with SEBI Listing Regulations and Companies Act, 2013.
Key Highlights
- GMR Airports received a Letter of Intent to Award (LOIA) from Delhi International Airport Limited (DIAL) for the Cargo City project.
- The project is spread over 50.5 acres and includes a 10-acre optional land parcel.
- The project is based on a revenue share payment model with a minimum monthly guarantee payable to DIAL.
- The project is a related party transaction on arms’ length basis.
- Necessary approvals were obtained in accordance with SEBI Listing Regulations and Companies Act, 2013.