Delhi and Hyderabad airport developer GMR Infrastructure Ltd. will now build an airport in Greece. The Bengaluru-based infrastructure player who jointly bid with GEK TERNA Group -- a Greek developer -- has bagged the order to build a new airport in Greece's largest island Crete.
GMR has also built the Sabiha Gokcen airport at Istanbul, making the Kastelli airport project its second venture in Europe. It will also operate the airport for 35 years, as per the contract, and has five years to build at first phase of the airport.
GMR had jointly bid for 480 million euro to construct and operate the new airport which will replace the existing Heraklion airport.
The scope of the project involves design, construction, financing, operation, and maintenance and exploitation of the New Heraklion Crete International Airport.
This selection reinforces theposition of GMR Airports as a major global airport operator.Sidharath Kapur, President, GMR Airports
Shares of GMR Infrastructure rose as much as 2.4 percent at Rs 16.6 on BSE.
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