The Indian Railways has reportedly allotted funds for improving the suburban rail system and its expansion in Mumbai, for which it has sanctioned Rs 5.79 bn for various phases of the Mumbai Urban Transport Project (MUTP), including the ongoing projects.
GMR has, under the leadership of its Chairman-Airports GBS Raju, won the bid to construct the greenfield Bhogapuram International Airport project in Andhra Pradesh. GMR Airports has successfully won the bid by offering a fee of Rs 303 per passenger as share of revenue to the government, beating Doit Smart Infrastructure India and GVK, that offered Rs 261 and Rs 207 per passenger, respectively. GMR Airports will reportedly be involved in the designing, building, financing, construction, development, upgradation, modernisation, and operation and maintenance of the airport for a period of 40 years. With GMR having bagged this project under the strategic vision of Raju, Phase-1 of the airport is expected to be built at Rs 23 billion and have a capacity of 6 million per annum on completion. Apart from being among the largest private airport companies in India, GMR Group is also the only Indian airport developer to have developed and operated airports outside the country. And, the Bhogapuram airport is yet another jewel in Raju’s crown!