VISAKHAPATNAM: National Investment and Infrastructure Fund (NIIF) is set to invest up to Rs 6.75 billion in the greenfield airport at Bhogapuram, which is being developed by GMR Airports Limited (GAL), a subsidiary of GMR Airports Infrastructure Limited.
GAL and NIIF inked binding agreements for investment of the sum in GMR Visakhapatnam International Airport Limited (GVIAL), a special purpose vehicle established to develop and operate the Bhogapuram International Airport.The investment is part of the financial partnership announced on December 7 between the parties, in relation to investment by NIIF in the equity capital of three airport projects of GMR Airports Limited.
