Hyderabad: A consortium of banks has agreed in principle to lend up to Rs 5,000 crore to the Mumbai International Airport Pvt Ltd (MIAPL), which won the bid for modernising and expanding the Chhatrapati Shivaji International Airport.
However, the company is unlikely to avail the entire funding, given its limited requirements in the initial phase.
MIAPL will spend about Rs 3,000 crore to bring the airport to international standards within the next three years, its new chairman G V Krishna Reddy told DNA. The company will invest an additional Rs 5,000 crore in the second phase.
MIAPL is a joint venture company that recently became a majority stakeholder in the Mumbai airport.
The consortium comprises the Hyderabad based GVK group (with an equity of 37%) and South African companies Airports Company South Africa Ltd (with 10%) and The Bidvest Group Ltd (27% equity participation). The Airport Authority of India will retain 26% holding in the company.
26/04/06 C Chitti Pantulu/Daily News & Analysis
To Read the News in full at Source, Click the Headline
Wednesday, April 26, 2006
Home »
» GVK seals finance for Mumbai airport
GVK seals finance for Mumbai airport
Wednesday, April 26, 2006
Related Posts:
Air Arabia, flydubai open return flight bookings from UAE UAE airlines Air Arabia and flydubai are now accepting return flight bookings on their respective websites to a number of destinations. Low-cost car… Read More
Foreigners stranded in India get visa extension New Delhi: The government of India on Tuesday announced extension of grant of consular services to all foreign nationals stranded in India due to the… Read More
7 flights to fly 2,350 people from 6 countries to Hyderabad Hyderabad: As many as 2,350 Indians stranded in six countries would arrive here in seven flights, a top Telangana official said on Wednesday. Seven … Read More
Indian Airlines Likely To Miss A320neo Engine Replacement Deadline Due to the lockdown in India, IndiGo and GoAir will likely miss the deadline to replace its Pratt & Whitney A320neo engines. India’s aviation reg… Read More
Air India's repatriation flights postponed as crew members' COVID-19 tests get delayed New Delhi: Air India's repatriation flights under the ‘Vande Bharat’ mission could not be operated on Wednesday as the crew members' COVID-19 tests w… Read More
0 comments:
Post a Comment