GMR welcomes Supreme Court Judgment on Delhi airport contract to DIAL

GMR Infrastructure Ltd has announced that the Company led consortium Delhi International Airport (Pvt) Ltd (DIAL) has welcomed the landmark judgment passed by the Hon'ble Supreme Court upholding the Delhi High Court’s decision on award of Delhi and Mumbai airports.

DIAL is working on the upgradation and modernization of the Indira Gandhi International Airport at Delhi, to convert it into India’s show window to the world. Since May 2006, DIAL has been constantly working towards upgrading the facilities at the existing airport and simultaneously working on a Master Plan which would encompass building a modern airport to meet the increasing demand from domestic and international air travellers. The first phase of this process will be ready by March 31, 2010 for the Commonwealth Games which would be held in Delhi.

Speaking on the occasion, Mr G M Rao, Chairman, DIAL said, "We welcome the decision of the Hon’ble Supreme Court, and this judgment reinforces our commitment to build a world class airport which would be the pride of Delhi and that of the nation. The GMR group is devoted to building projects that contribute to national growth and help India take its righteous place as one of the leading economies of the world."

Welcoming the Supreme Court judgment, the Managing Director of DIAL, Mr Srinivas Bommidala added, "The judgment will give a further boost to our efforts of modernizing the Delhi Airport. We have submitted our Master Plan to the Ministry of Civil Aviation and Airports Authority of India, which details our plans to build new world class airport for Delhi with state of the art technology. The first phase of the project which will cater to 37 million passengers per annum, will be completed well before the Common Wealth Games in 2010".

Further the Company has announced that, the contract for modernization and restructuring of the Delhi International Airport had been awarded to the consortium led by this Company and is being executed by Delhi International Airport (P) Ltd (DIAL), a subsidiary of this Company and a joint venture between the GMR Group, Airports Authority of India, Fraport AG, Malaysian Airport and India Development Fund.

Source : Equity Bulls

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