PM Shri Narendra Modi Lays Foundation for Nagpur Airport Upgradation and Modernization

GMR Airports Limited (GAL) has officially embarked on the transformation of Dr. Babasaheb Ambedkar International Airport in Nagpur, a key initiative that underscores the Government of India's vision for robust infrastructure development in the aviation sector. Hon'ble Prime Minister Shri Narendra Modi graced the groundbreaking ceremony for the upgrade and modernization of the airport, marking a historic step towards modernizing this strategic aviation hub in Central India.

The ceremony, held with much enthusiasm, was attended by several prominent dignitaries, including Shri CP Radhakrishnan, Hon'ble Governor of Maharashtra; Shri Eknath Shinde, Hon'ble Chief Minister of Maharashtra; Shri Nitin Gadkari, Hon'ble Minister for Road Transport and Highways; Shri Murlidhar Mohol, Hon'ble Minister of State for Civil Aviation and Corporation, Government of India; Shri Devendra Fadnavis, Deputy Chief Minister of Maharashtra; and Shri Ajit Pawar, Deputy Chief Minister of Maharashtra.

In line with the Government of India's vision for strengthening the aviation infrastructure, this project aims to enhance connectivity, support economic growth, and boost India's status as a global aviation hub. Prime Minister Modi's presence at the event reflects the national importance of the project, which aligns with India's broader efforts to develop world-class airports and expand the aviation sector's capacity to meet rising demand.

GMR Airports Limited (GAL), will lead the transformation of Nagpur's Dr. Babasaheb Ambedkar International Airport into a world-class facility. The project is part of India's larger vision to elevate the country's aviation infrastructure to global standards, ensuring seamless connectivity and supporting the growth of regional economies.

Strategically located in Central India, Nagpur serves as a critical hub for both passenger and cargo traffic, playing a pivotal role in regional connectivity. GMR Airports Limited (GAL) is embarking on a plan for phased development that will enhance the airport's ultimate capacity to 30 million passengers annually, positioning it as a key airport. This transformation is set to not only enhance connectivity within the Vidarbha region but also strengthen its economic infrastructure. GAL's commitment to modernising and expanding the airport includes a significant boost in cargo handling capabilities - increasing the capacity to 20,000 metric tons. This development will establish Nagpur as a logistics hub, driving regional trade and fueling economic growth across Central India.

The first phase of this transformation includes enhancing the passenger terminal capacity to 4 million passengers annually. This ambitious project will also involve upgrading existing infrastructure, building a modern cargo terminal, and improving airside facilities with a new Air Traffic Control (ATC) tower.

Another significant milestone was achieved Tuesday as GMR Nagpur International Airport Ltd. (GNIAL, a 100% subsidiary of GAL) and MIHAN India Limited executed the concession agreement for the project.

Mr. G B S Raju, Business Chairman - Airports, GMR Group, emphasized GAL's commitment to world-class standards. He said, "With our proven track record of transforming aviation infrastructure in India and overseas, GMR is committed to delivering a worldclass airport at Nagpur. The airport will serve as a global gateway, reflecting Nagpur's status as an emerging economic hub. This development aligns with Hon'ble Prime Minister Shri Narendra Modi's vision to drive India's aviation growth and the Government of Maharashtra's commitment to building worldclass infrastructure. The Nagpur Airport project is expected not only to improve connectivity, passenger experience and set new benchmarks in India's aviation sector but also become the economic growth engine for the state of Maharashtra."

With a track record of transforming airports into world-class aviation hubs, GMR Airports has successfully managed major airport projects in India and abroad. GAL's efforts in Nagpur reflect its expertise and commitment to enhancing both passenger and cargo operations, bolstering the economic potential of Nagpur as a dynamic center for commerce and connectivity.

Shares of GMR Infrastructure Limited was last trading in BSE at Rs. 87.68 as compared to the previous close of Rs. 87.20. The total number of shares traded during the day was 1469085 in over 7044 trades.

The stock hit an intraday high of Rs. 89.52 and intraday low of 87.04. The net turnover during the day was Rs. 130090633.00.

Source : Equity Bulls

Keywords

GMRAirportsInfrastructure INE776C01039 Foundation NagpurAirport Upgradation Modernization