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GMR Group to invest 50,000mn in Bhogapuram Airport
The first phase of construction for the international airport being built by the GMR Group in Bhogapuram, close to Visakhapatnam, will cost $50,000 million.
The first phase of the airport will be created to serve six million people annually, GMR Group Chairman GM Rao said at the opening session of the Global Investors Conference 2023 in Visakhapatnam. "The Bhogapuram Airport will be constructed in stages, with the first serving six million passengers and the last having a capacity of forty million (per annum). The initial funding round will cost $50 million "Rao declared.
According to him, the airport will include cutting-edge cargo facilities that will handle exports as well as an aerotropolis and airport city surrounding it that would include an industrial zone, an airspace zone, and zones for education and healthcare.
Rao added that the airport would emulate the Hyderabad Aerodrome's achievements, aiding in the transformation of Visakhapatnam City and establishing the state as the most sought-after investment destination.
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