GMR airports to build and operate new airport in Greece
Mumbai: GMR Airports Limited, a subsidiary of GMR InfrastructureNSE 0.64 %, on Friday announced it has achieved the concession commencement date (CCD) for design, construction, financing, operation, and maintenance of a new international airport at Crete, Greece.
GMR Airports Limited (GALNSE 4.88 %) along with its Greek partner GEK TERNA signed the concession agreement in February 2019.
The concession period for the project is 35 years, including Phase-1 construction of five years. The consortium intends to invest over 500 million euros for development of the new airport. The project will be funded through a mix of equity, accruals from the existing airport, and
