GMR Airports Infrastructure (GVIAL), through its step-down subsidiary, has raised Rs 3,125 crore from a consortium of five lenders, the company informed on Saturday.
GMR Visakhapatnam International Airport, the company that has the concession to build and operate the greenfield Bhogapuram International Airport, has executed the financing agreement led by India Infrastructure Finance Company
The phase I development of the Bhogapuram International Airport would cater to 6 million passengers annually. The debt will have a tenure of 18 years, comprising 3 years of construction phase, 1 year of stabilisation phase and 14 years of structured repayments.
