Insta
GMR Bags A Grecian Deal: To Help Develop An International Airport In Crete Island, Once The Home Of The Minoans
(Wikipedia/GMR Group)
GMR Airports has signed a concession agreement with its Greek partner Terna Group to construct a new international airport in the Greek island of Crete, reports Press Trust of India (PTI).
The two companies together are planning to make an investment of over EUR 500 million or approx Rs 4,034.28 crore in the project. The concession agreement involves design, construction, financing, operation and maintenance of the new international airport of Heraklion at Crete.
“The concession period for the project is 35 years including phase 1 construction of five years,” the company stated.
Crete is the largest and most populous of the Greek islands with a population of around 6,23,100 (2011). It was once the centre of the Minoan civilisation (c. 2700–1420 BC), which is the earliest known civilisation in Europe.
Illustrious History
GMR, which is the largest private airport company in India, is also among the top five private airport developers and operators globally. While it presently owns and operates Delhi International Airport and Hyderabad International Airports, it also recently won a concession to develop and operate Goa’s Greenfield airport.
The company is also the only private airport in the country to have operations outside of India. In partnership with Megawide Construction Corporation of Philippines, GMR currently operates and develops Mactan Cebu International Airport – the second largest airport of Philippines.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
