GMR Infrastructure GHIAL awards contract Reliance Industries

GMR Infrastructure Ltd has announced that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of the Company, is awarding the Fuel Farm Operations Contract to Reliance Industries Ltd (RIL).

RIL has been selected through a highly transparent and competitive bidding process. The contract is valid for a period of 7 years, which can be further extended on mutual agreement.

GHIAL and RIL are signing the contract on October 06, 2006, in Hyderabad. As per the contract, GHIAL is setting up 'Open Access Model' Fuel Farm. While RIL, will operate and maintain the Farm, as well as provide 'into-aircraft' service.

This model of Fuel Farm is being implemented for the first time in India and is expected to provide a wider choice for airlines in selecting fuel suppliers thereby causing competition among the fuel suppliers. As a result, the airlines are expected to get the aviation fuel at a very competitive price with the highest level of service.

Source : Equity Bulls

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