GMR Hyderabad International Airport Ltd to provide additional facilities at the new Shamshabad airport

GMR Infrastructure Ltd has announced that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of the Company, which is developing the international airport in Shamshabad, has decided to provide additional facilities at the new Airport for catering upto, 12 million passengers, by the Airport Commencement date, due in April 2008, to meet the growing demand for air travel.

The additional facilities to be provided are the additional aircraft parking stands, rapid exit taxiways and full-length parallel taxiways. Also included is additional office space for airlines, extra cargo terminal space, additional car parking for passengers and public all of which have been incorporated to meet future needs.

The additional facilities would also include further investment in Safety / Security measures in line with the BCAS specifications.

For meeting this additional expenditure, GHIAL has decided to inject an additional investment of Rs 523 Crores including the investment in fuel farm facilities. A decision to this effect was taken at GHIAL Board meeting held in Hyderabad on October 16, 2006. The additional investment would be raised by way of 100% debt from leading banks.

With the infusion of this additional investment, the total project cost will now be Rs 2283.18 Cr.

Source : Equity Bulls

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