The project involves design, build, finance, construction, development, up-gradation, modernization, operation and maintenance of the Bhogapuram airport for a period of 40 years.
Share price of GMR Infrastructure rose 2 % in the early trade on Wednesday after company emerged highest bidder for airport in Andhra Pradesh.
GMR Airports (GAL), a subsidiary of GMR Infrastructure, has emerged as the highest bidder for the development, operations and management of greenfield international airport at Bhogapuram, Andhra Pradesh (AP) on a PPP basis.
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The project involves design, build, finance, construction, development, up-gradation, modernization, operation and maintenance of the Bhogapuram airport for a period of 40 years.
GBS Raju, Business Chairman, GMR Group said, "We look forward to work on this prestigious airport and will aim to deliver an airport of global standards which would be a matter of pride for the region of Visakhapatnam and provide a further fillip to the economic potential of Andhra Pradesh."
At 09:26 hrs GMR Infrastructure was quoting at Rs 16.60, up Rs 0.30, or 1.84 %
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