The concession period for the project is 35 years including Phase 1 construction of 5 years.
GMR Infrastructure share price rose over 1 percent on February 11 after the company's subsidiary secured a contract to build and operate an airport in Greece.
GMR Airports, a subsidiary of the company, has achieved the concession commencement date (CCD) for design, construction, financing, operation, and maintenance of new international airport of Heraklion at Crete, Greece.
GMR Airports (GAL) will work along with its Greek partner GEK TERNA to construct and operate the new international airport
The concession period for the project is 35 years including Phase 1 construction of 5 years.
The consortium intends to invest over 500 million Euro for the development of the airport.
The project is well‐funded through the support of government grant and would not require any debt. The entire project will be funded through a mix of equity, accruals from the existing airport, and financial grant being provided by the government of Greece
At 11:01 hrs, GMR Infrastructure was quoting at Rs 23.45, up Rs 0.20, or 0.86 percent on the BSE.- Click here for Delhi Election Result 2020 Live Updates, News, Views and Analysis
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