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The Hyderabad-based GVK Group is present in energy, airports, transportation, hospitality and life sciences. The group set up the country's first independent power plant is also the first company to develop a six-lane road project under the PPP model.
GVK today said it has decided to exit from Bangalore International Airport Limited by selling its 10 per cent stake to Fairfax India Holdings Corporation for Rs 1,290 crore.
The City and Industrial Development Corporation (CIDCO), for the second time on January 25, 2017, extended the deadline for submitting bids for the Navi Mumbai Airport to February 13, as it received only one R
When bids for Navi Mumbai airport project open next week, GMR Group and Tata Realty will abstain from bidding for the Navi Mumbai airport project due to "onerous" bid conditions, Business Standard reported Wednesday.
After much delay, the initial bids for development of the Navi Mumbai international airport is likely to be opened early next month, with leading players, including GMR and GVK expected to be in the fray.
Infra major GMR Infra who operates the Delhi and Hyderabad airports has bagged yet another project -- a new airport in Goa.
Flight EY204 from Abu Dhabi landed at Chhatrapati Shivaji International Airport in Mumbai on Sunday on the occasion of Maharashtra Day, the 56th anniversary of the state's formation.
BIAL owns and operates the Kempegowda International Airport Bengaluru (KIAB) under a 30-year concession agreement, with a further 30-year extension option from the Centre.
The airport arm is believed to have more than Rs 3,000 crore debt. "GVK Airport Developers Ltd, a wholly-owned subsidiary of our company has been exploring various options, over a period, to raise funds through PE investors, an IPO among others etc, to reduce its debt burden," GVK Power and Infrastructure said in a filing to the BSE.
Newly-appointed ambassador of European Union Tomasz Kozlowski said the issue of European Union restricting sale of around 700 generic drugs clinically tested by India's GVK Biosciences does not stand any more and both are now set to open a "new page" in their ties. FTA talks between the two sides will be held in January.
ICICI Bank is the consortium leader for Bengaluru airport restructuring while IDBI Bank will be the consortium leader for the Mumbai airport.
An Australian court on Wednesday revoked the government's environmental approval for one of the world's biggest coal mines under construction in the Australian outback by Indian conglomerate Adani Mining.
A recovery in India's credit growth could elude the country's banks until early 2016, despite an economy that in the first three months of this year is expected to have outpaced China.
According to CIDCO, the Navi Mumbai International Airport Project has four good bids now.
Indian conglomerates such as the Adani Group and GVK are expected to bid for coal blocks, but foreign firms will be harder to attract after previously facing obstacles to investing.
"Kolkata and Chennai airports have already seen huge investments by the Airports Authority of India but continue to be poorly managed. In all likelihood, these two airports will not be on the PPP map," the source said.
The GVK Hancock joint venture still needs to finalise a plan with coal rail operator Aurizon Holdings, overcome legal challenges to the project, and sign coal sales agreements before lining up financing for the huge project.
Did you know about a government company whose market capitalization is higher than companies like Lanco, GVK, Punj Lloyd, NIIT, IVRCL, Escorts but has accumulated losses of nearly Rs 4,500 crore.
GVK Group's Mumbai International Airport Ltd (MIAL) will be able to pocket close to Rs 1,000 crore by end of this financial year. Three companies are at final stages to lease out its phase one property and will commence work this year. CNBC-TV18's Manasvi Ghelani reports.
This may make these airports more attractive to private players like GVK, GMR, Tata, Reliance that have shown interest in bidding for airports.
Following a rigorous and thorough assessment process by two levels of government spanning five years, Federal Environment Minister Greg Hunt gave an approval decision to construct and operate Kevin's Corner Coal Mine, 50 kms north of the town of Alpha in Queensland, GVK said in the release.
The cost of the project is estimated at Rs 1,756.36 crore including the cost of land acquisition, resettlement and rehabilitation and other pre-construction activities.
The planning commission had circulated a draft master concession agreement which laid down the terms and requirements that any of the private players who are chosen to develop the six airports that the government is looking to privatize would have to meet.
Financial Technologies | Jet Airways | Pioneer Distilleries | GMR Infrastructure | GVK Power | Gulf Oil Corporation | Bayer Cropscience | APL Apollo Tubes | Zenith Infotech | Apollo Tyres | Infosys | S Kumars Nationwide and IOC are stocks, which are in the news today.