GMR Infrastructure Limited shares rose 2.5% to Rs 17.45 on BSE this morning on reports that the consortium of GMR-Megawide is among five consortia short-listed for the development of Fransisco Bangoy International Airport (Davao airport) in the Philippines.
The Philippines Government's Public Private Partnerhship Center has listed on its website that GMR Infrastructure and Megawide Consortium, Filinvest-Jatco-Sojitz Consortium, Maya Consortium of Aboitiz Equity Ventures, Inc; VINCI Airports SAS, Phillippine Airports Consortium comprising Metro Pacific Investments Corporation and Philippines Airport Management Company and SMHC-IIAC consortium of San Miguel Holdings Corporation and Incheon International Airport Corporation as pre-qualified bidders for the project.
The project brief pegs the cost of the maintenance and development project at $810 million or 40.57 billion Philippino Pesos.
GMR, which developed the greenfield airport in Hyderabad and the swanking New Delhi International Airport, has already bagged the mandate to develop the airport in Goa. GMR developed Turkey's Sabia Gokcen airport.
GMR Group, which has interests in Airport, Energy, Transportation and UrbanInfrastructure, has fifteen power generation projects of which ten are operational and five are under development and construction stages. Besides, it has seven operating road assets and a double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.
In partnership with Megawide Construction Corporation, the GMR Group is developing Mactan Cebu International Airport in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada and India's largest Smart Airport City near Hyderabad International Airport.
