+
GMR Cargo Secures Rs 7.5 Billion Loan For Delhi Cargo City
AVIATION & AIRPORTS

GMR Cargo Secures Rs 7.5 Billion Loan For Delhi Cargo City

GMR Airports’ subsidiary, GMR Cargo and Logistics (GCLL), has secured a term loan facility of up to Rs 7.5 billion from Axis Bank to support the development of the upcoming cargo city at Delhi’s Indira Gandhi International Airport (IGIA), according to a recent exchange filing.

The loan will fund the construction of the cargo city project, which spans 50.5 acres within IGIA. The airport is operated by Delhi International Airport Ltd (DIAL), itself a subsidiary of GMR Airports.

To secure the facility, GMR Airports has provided a Sponsor Support Undertaking (SSU), along with a pledge, a Non-Disposal Undertaking (NDU), or a combination of both, on 51 per cent of its shares in GCLL in favour of Axis Bank.

The company stated that the SSU will remain valid throughout the construction period of Phase 1, plus one year of operations, unless a different arrangement is agreed between GMR Airports and Axis Bank.

Under the SSU, GMR Airports has committed that all subordinated loans extended to GCLL will remain subordinated to the bank’s facility. The company must also inject additional funds into GCLL in the event of a cost overrun in the first phase or if GCLL falls short in meeting repayment obligations.

For the cargo city development, GCLL and DIAL entered into a concession agreement on 26 September, further formalising the project framework.

GMR Airports’ subsidiary, GMR Cargo and Logistics (GCLL), has secured a term loan facility of up to Rs 7.5 billion from Axis Bank to support the development of the upcoming cargo city at Delhi’s Indira Gandhi International Airport (IGIA), according to a recent exchange filing. The loan will fund the construction of the cargo city project, which spans 50.5 acres within IGIA. The airport is operated by Delhi International Airport Ltd (DIAL), itself a subsidiary of GMR Airports. To secure the facility, GMR Airports has provided a Sponsor Support Undertaking (SSU), along with a pledge, a Non-Disposal Undertaking (NDU), or a combination of both, on 51 per cent of its shares in GCLL in favour of Axis Bank. The company stated that the SSU will remain valid throughout the construction period of Phase 1, plus one year of operations, unless a different arrangement is agreed between GMR Airports and Axis Bank. Under the SSU, GMR Airports has committed that all subordinated loans extended to GCLL will remain subordinated to the bank’s facility. The company must also inject additional funds into GCLL in the event of a cost overrun in the first phase or if GCLL falls short in meeting repayment obligations. For the cargo city development, GCLL and DIAL entered into a concession agreement on 26 September, further formalising the project framework.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code