Hyderabad: In a fillip to ongoing works of Bhogapuram international airport in Andhra Pradesh, National Investment and Infrastructure Fund (NII would be investing upto Rs 675 crore in GMR Visakhapatnam International Airport Limited (GVIAL).
GMR Airports Limited (GAL), a subsidiary of GMR Airports Infrastructure Limited, and NIIF entered into binding agreements for NIIF to invest in GVIAL, a special purpose vehicle to develop and operate the Bhogapuram International Airport (BIA).
This investment is part of the financial partnership announced on December 7, 2022 between the parties, in relation to investment by NIIF in the equity capital of three airport projects of GMR Airports Limited.
