GMR arranges Rs 4,000-cr loan to construct Vizag international airport
Indian conglomerate GMR has lined up a Rs 4,000-crore loan for the construction of a greenfield international airport at Vizag, according to a report by The Economic Times (ET). An India Infrastructure Finance Company (IIFCL)-led consortium is funding the initiative for the construction group.
The airport in Vizag would become GMR’s fourth major airport in the country after those at Delhi, Hyderabad, and Goa.
After a reorganisation of the company that resulted in its separation into two listed firms two years ago, the new airport in Vizag is part of GMR’s initiative to boost its aviation facilities business.
