Moneycontrol
Last Updated : Oct 01, 2018 03:52 PM IST | Source: Moneycontrol.com

GMR Infra emerges as highest bidder for Nagpur airport, stock gains 5%

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.

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Share price of GMR Infrastructure gained 5 percent on Monday after  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.

GMR Infrastructure ended at Rs 16.95, up Rs 0.85, or 5.28 percent on the BSE.

Posted by Rakesh Patil
First Published on Oct 1, 2018 03:45 pm
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