GMR Hyderabad International Airport has entered into a joint venture with a subsidiary of Hong Kong-based ESR Cayman to develop a 66-acre logistics park at the Hyderabad airport city. The project has a total outlay of Rs 550 crore. ESR Hyderabad 1 holds 70% stake in the joint venture company, GMR Logistics Park, and GMR Hyderabad Aerotropolis holds the rest. “The JV proposes to develop a flagship airport centric logistics and industrial park providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial such as light assembly,” GMR said in a press release.
The GMR Group is one of the older, well-established players in the airports infrastructure space. The infrastructure conglomerate, which has presence in energy, transport and urban infrastructure sectors, has recently met with aggressive competition from newer players in airports infrastructure including the Adani Group.
