GMR in search of new avenues abroad
After successfully completing the Greenfield airport at Hyderabad and operating it and the inauguration of Istanbul Sabiha Gokcen Airport, Bangalore-based GMR Group is currently evaluating opportunities in the energy, real estate and hospitality sectors in Turkey. The group could also be bidding for more airport projects in Russia, Czech Republic and Abu Dhabi.
The GMR Group, in a consortium with Limak of Turkey and Malaysia Airport Holdings had won the rights to develop a second terminal for the Istanbul Airport and operate it for 20 years. The consortium will pay 1,932 million euros to the Turkish government over the concession period. The consortium will invest about 250 million euros for developing the new international terminal, which will be able to handle traffic of ten million passengers. Apart from the terminal, the consortium will also build a car park and a hotel.