Published On : Mon, Oct 1st, 2018

Privatisation of Nagpur airport: GMR Infra emerges as highest bidder

Nagpur: Share price of GMR Infrastructure gained 4.3 percent intraday Monday as company emerged highest bidder for privatisation of Nagpur airport.

GMR Airports, a subsidiary of GMR Infrastructure, has emerged as the highest bidder for the development, operations and management of Dr. Babasaheb Ambedkar International Airport, Nagpur on a public private partnership (PPP) basis.

The project involves up-gradation, modernization, operation and maintenance of Nagpur airport for a period of 30 years and includes construction of a new terminal amongst other works.

GBS Raju, Business Chairman GMR Airports said, “We look forward to work on this prestigious airport and to upgrade the existing airport to global standards which would be a matter of pride for the city of Nagpur and provide a further fillip to the economic potential of Vidharba region.”

The share declined 5 percent during the day. It has touched an intraday high of Rs 16.80 and an intraday low of Rs 15.30.

At 12:04 hrs GMR Infrastructure was quoting at Rs 16.15, up Rs 0.05, or 0.31 percent on the BSE.