GMR’s Hyderabad airport unit raises $300 mn via overseas bonds to fund expansion

GMR Hyderabad International Airport, a subsidiary of GMR Ltd, said that it has raised $300 million by issuing bonds to international investors to fund the expansion of Rajiv Gandhi International Airport at Hyderabad.

The company wants to increase the passenger capacity of the airport to 34 million passengers per annum from 25 million now.

GHAIL is promoted by the GMR group, which holds 63% of the total shares, in partnership with the Airport Authority of India, Government of Telangana and Malaysia Airports Holdings Berhad.

Headquartered in Bengaluru, GMR Infrastructure has a global presence with infrastructure operating assets and projects in several countries including Nepal, Philippines, Greece, Indonesia and Singapore.

The company’s interests lie in areas like airports, energy, highways and urban infrastructure.

The company was involved in the construction of the Rajiv Gandhi International Airport in Hyderabad and Sabiha Gökçen International Airport in Turkey.

GMR was also involved in the expansion and modernisation of Indira Gandhi International Airport in New Delhi.