+
GMR To Build Cargo City At Delhi Airport
AVIATION & AIRPORTS

GMR To Build Cargo City At Delhi Airport

GMR Airports Ltd will develop a new cargo city spread over 50.5 acres at Indira Gandhi International Airport (IGIA) in Delhi, the country’s largest airport operated by Delhi International Airport Ltd (DIAL), a subsidiary of GMR Airports.

According to a regulatory filing, the project involves creating state-of-the-art cargo and logistics facilities across 50.5 acres, including a 10-acre optional land parcel for future expansion. GMR Airports has been selected to finance, design, develop, construct, operate, manage and maintain the cargo city until 2036, with the concession period extendable by an additional 30 years. The company has also received a Letter of Intent to Award (LOIA) from DIAL.

The project will follow a revenue-share payment model, with GMR Airports required to pay a minimum monthly guarantee to DIAL. For the initial period up to 2036, the total estimated payment obligation amounts to Rs 4.16 billion.

The filing further noted that the transaction qualifies as a related party deal conducted on an arm’s length basis, with all necessary approvals secured in compliance with SEBI Listing Regulations and the Companies Act, 2013.

 


GMR Airports Ltd will develop a new cargo city spread over 50.5 acres at Indira Gandhi International Airport (IGIA) in Delhi, the country’s largest airport operated by Delhi International Airport Ltd (DIAL), a subsidiary of GMR Airports.According to a regulatory filing, the project involves creating state-of-the-art cargo and logistics facilities across 50.5 acres, including a 10-acre optional land parcel for future expansion. GMR Airports has been selected to finance, design, develop, construct, operate, manage and maintain the cargo city until 2036, with the concession period extendable by an additional 30 years. The company has also received a Letter of Intent to Award (LOIA) from DIAL.The project will follow a revenue-share payment model, with GMR Airports required to pay a minimum monthly guarantee to DIAL. For the initial period up to 2036, the total estimated payment obligation amounts to Rs 4.16 billion.The filing further noted that the transaction qualifies as a related party deal conducted on an arm’s length basis, with all necessary approvals secured in compliance with SEBI Listing Regulations and the Companies Act, 2013. 

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Tiruchi Airport Handles over 20 t of Domestic Cargo in a Month

Tiruchi International Airport has handled more than 20 t of inbound and outbound domestic cargo since the facility was launched in late August. Outbound shipments have exceeded inbound volumes, with private carriers transporting goods to Chennai, Delhi, Bengaluru and Mumbai. The domestic cargo service began after the Bureau of Civil Aviation Security (BCAS), an independent department under the Ministry of Civil Aviation, granted clearance. The facility was introduced to give local businesses a faster route for sending goods to major domestic hubs, reducing their reliance on cargo routed throug..

Next Story
Infrastructure Urban

Gabriel India Forms Joint Venture with Forvia for Advanced Seating

Gabriel India, part of the US$2.6 bn Anand Group, has formed a joint venture with France-based Forvia to bring advanced seating systems and technologies to the Indian automotive market. The partnership expands Gabriel India’s participation in vehicle systems as automotive architectures become more sophisticated and customer requirements evolve. The joint venture, named Faurecia Anand Seating India, combines Forvia’s global seating technology expertise with Gabriel India’s manufacturing capabilities, customer relationships and understanding of the Indian automotive market. Forvia will hol..

Next Story
Infrastructure Urban

Hical Technologies, Safran to Explore Rafale Systems Joint Venture

Hical Technologies has signed a Memorandum of Understanding (MoU) with Safran Aerosystems to explore establishing a joint venture for manufacturing complex systems for the Dassault Rafale programme in India. The Bengaluru-based precision electromechanical manufacturer said the proposed venture would support the production of advanced equipment for Rafale aircraft delivered under the Make in India initiative. The proposed operations would include complex fluid and fuel systems and related assemblies. The agreement is intended to expand the role of Indian industry in global aerospace and defence..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code