Saturday, Apr 27 2024 | Time 03:41 Hrs(IST)
image
Business EconomyPosted at: Feb 22 2019 2:36PM


GMR-TERNA JV signs concession pact for new Crete airport

New Delhi, Feb 22 (UNI) GMR Airports Limited, a subsidiary of GMR Infrastructure Limited along with Greek partner Terna Group on Friday signed the Concession Agreement for Design, Construction, Financing, Operation, and Maintenance & Exploitation of New International Airport of Heraklion at Crete, Greece.
The concession period for the project is 35 years including Phase 1 Construction of 5 years.

Greece is one of the leading International tourist destinations, attracting nearly 27 mn tourists per annum. Crete is largest and most visited island in Greece. Heraklion airport, located in Crete, is the 2nd largest airport in Greece and has registered traffic growth at a CAGR of 10 per cent per annum over the past three years.
The current airport is facing a severe capacity constraint and will be replaced by the new airport at Kastelli. The scope of the project involves Design, Construction, Financing, Operation, and Maintenance & Exploitation of the New Heraklion Crete New International Airport.

The consortium intends to invest over 500 million Euro for development of the new airport. The entire project will be funded through a mix of equity, accruals from the existing airport, and financial grant being provided by the Government of Greece; therefore, debt is not required in this project.

UNI SW SB 1435
Please log in to get detailed story.
Tags: #GMR-TERNA JV signs concession pact for new Crete airport
More News
Sensex nosedives 609 28 pts

Sensex nosedives 609 28 pts

26 Apr 2024 | 5:26 PM

Mumbai, April 26 (UNI) Snapping a winning streak of last five sessions, the BSE Sensex on Friday, the last session of the week, tanked 609.28 pts to settle at 73730.16 amid mixed global cues.

see more..
Maruti Suzuki net profit surges 48 pc to Rs 3,878 crore in Q4

Maruti Suzuki net profit surges 48 pc to Rs 3,878 crore in Q4

26 Apr 2024 | 5:00 PM

New Delhi, April 26 (UNI) On the back of solid volume growth, the country's largest carmaker Maruti Suzuki on Friday reported 47.80% jump in standalone net profit at Rs 3,877.8 crore for January-March period (Q4) of financial year 2023-24.

see more..

Shriram Finance net jumps 57 pc to Rs 2,021 cr in Q4

26 Apr 2024 | 3:52 PM

New Delhi, April 26 (UNI) Shriram Finance on Friday reported 56.91% year-on-year jump in consolidated net profit at Rs 2,021.28 crore for the January-March period (Q4) of financial year 2023-24.

see more..
Maruti Suzuki gets show-cause notice from Legal Metrology dept

Maruti Suzuki gets show-cause notice from Legal Metrology dept

26 Apr 2024 | 2:39 PM

New Delhi, April 26 (UNI) The country's leading carmaker Maruti Suzuki India on Friday said that it has received a show-cause notice from the Legal Metrology office in Rishikesh, Uttarakhand.

see more..

Onkar Kanwar gets Lifetime Achievement Award

26 Apr 2024 | 2:08 PM

Kochi, April 26 (UNI) Chairman of Apollo Tyres Ltd, Onkar Kanwar, has been conferred with the Lifetime Achievement Award at the All India Management Association (AIMA)’s Managing India Awards ceremony.

see more..
image