Abu Dhabi Investment to Invest $750M in GMR Group's Debt

24 Oct 2024 CW Team

The Abu Dhabi Investment Authority (ADIA), recognized as the UAE's largest sovereign wealth fund, plans to invest approximately $750 million in the debt of India's GMR Group, thereby establishing a presence in one of the fastest-growing aviation markets globally.

This investment will also enable GMR Group to reduce the pledged shareholding related to its airports business.

ADIA's funds will be allocated to structured debt instruments of GMR Enterprises (GEPL), the holding company for GMR Group, which holds nearly a 25% stake in GMR Airports.

The capital will be used to refinance all external debt of GMR Enterprises, which aims to significantly lower its pledge on the shareholding of GMR Airports, as stated by GMR Group in an exchange filing.

According to GMR Enterprises' latest annual report, the total debt increased by nearly 4% year-on-year to Rs 44.77 billion. GMR Group Corporate Chairman Kiran Grandhi remarked that the investment from ADIA would facilitate the repayment of all external debt at GEPL, thereby strengthening their ability to support the ongoing growth of GMR Airports.

It is anticipated that India's domestic passenger traffic will double to 300 million by 2030.

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..