GMR Airports Submits Bid for New International Airport in Greece

- Bid submitted in consortium with GEK Terna Group of Greece

- The bid is for Development, Operations and Management of the new airport for a concession period of 35 years

GMR Infrastructure Limited, India’s leading Infrastructure Company, today announced that its subsidiary, GMR Airports Limited (GAL), has submitted the bid along with its partner GEK Terna Group of Greece for the Development, Operations and Management of New International Airport of Heraklion at Crete Island, Greece.

The scope of the project involves Design, Construction, Financing, Operation & Maintenance of the airport for a concession period of 35 years.

GEK Terna Group is a leading Greek Infrastructure company having presence in Construction, Energy, Mining, Waste management, Concessions, Real Estate development & facilities’ management. It is understood that this is the sole bid for this concession.

Upon award, GAL will be the airport operator for this project. Under the Bid conditions, it is mandatory for the airport operator to hold a minimum of 10% equity stake in the consortium.

Commenting on the development, a GAL Spokesperson, said: “The bid submission is in line with the GMR Group’s asset light growth strategy with value build up from this project coming to GMR more from leveraging the airport platform, leading to enhanced revenue based services, than just equity.”

Greece is a major International tourist destination, with - 24 Mn tourists per annum. Crete is the largest and most visited island in Greece. Heraklion airport, located in Crete, is the 2nd largest in Greece and has witnessed steady traffic growth in the last 3-4 years. The current airport is facing capacity constraint and is not able to cope with growing traffic demand.  The existing Heraklion airport will be closed once the new airport is operational.

About GMR Infrastructure Limited

GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. The group has fifteen power generation projects of which ten are operational and five are under development and construction stages. Besides, it has nine operating road assets and a double rail track line between Mughalsarai - New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.

GMR Group developed and operates India’s busiest and currently World’s No1 Indira Gandhi International Airport in New Delhi and Greenfield Rajiv Gandhi International airport at Hyderabad. It has also bagged right to develop and operate of Goa’s Greenfield Mopa airport. GMR Infrastructure in partnership with Megawide Construction Corporation is developing Mactan Cebu International Airport (MCIA) in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada and India’s largest Smart Airport City near Hyderabad International Airport.

GMR Group, through its Corporate Social Responsibility arm, GMR Varalakshmi Foundation, carries out community-based development initiatives at 22 different locations in the areas of education; health, hygiene and sanitation; empowerment and livelihoods and community development.

For further information about GMR Group, visit http://www.gmrgroup.in/index.html