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GMR Group to invest Rs 5,000 cr on Bhogapuram Airport, Andhra Pradesh
The GMR Group, which is building an international airport in Bhogapuram near Visakhapatnam, would invest Rs 5,000 crore in the first phase of construction.
GM Rao, chairman of GMR Group, stated at the inaugural session of the Global Investors Conference 2023 in Visakhapatnam that the first phase of the airport will be developed to serve six million people per year. "We want to build Bhogapuram Airport in phases, with the first serving six million people and the final capacity reaching 40 million (per annum). The initial round of investment will be worth Rs 5,000 crore "Rao stated.
The airport will have state-of-the-art cargo facilities that will cater to exports and aerotropolis and airport city around the airport that will consist of an industrial zone, airspace zone and education and healthcare zones, he said.
Rao further said the airport would replicate the success of Hyderabad aerodrome which will help in the transformation of Visakhapatnam city and also place the state on the global map as the most preferred investment destination.
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