GVK to invest Rs 4,500 cr

GVK Power and Infrastructure Ltd plans to invest Rs 4,000-4,500 crore to modernise and expand the Bangalore International Airport Ltd (BIAL). GVK, which currently owns 29 percent stake in BIAL, plans to buy Siemens Project Ventures GmbH's 40 per cent stake in BIAL. GVK is the second-biggest shareholder in BIAL after it acquired 17 per cent from Larsen & Toubro Ltd (L&T) in December 2009 for Rs 686 crore. Contact: GVK Power and Infrastructure Ltd. Tel: 040-2790 2663. Fax: 040-2790 2665. E -mail: info@gvk.com Website: www.gvk.com