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GMR to spend Rs 6,300 crore on Hyderabad airport expansion
GMR to spend Rs 6,300 crore on Hyderabad airport expansion
GMR Group, the operator of Rajiv Gandhi International Airport (RGIA) Hyderabad is going invest Rs 6,300 crore to expand the aerodrome capacity to 34 million passengers per annum by 2024, a senior executive of the company said on Friday
Hyderabad: GMR Group, the operator of Rajiv Gandhi International Airport (RGIA) Hyderabad is going invest Rs 6,300 crore to expand the aerodrome capacity to 34 million passengers per annum by 2024, a senior executive of the company said on Friday.
Antoine Crombez, Deputy CEO, GMR Airports Ltd, said: "The majority of funds for the expansion are raised through issuance of bonds. This is as part of Hyderabad airport expansion at both domestic side and international side. We are investing Rs 6,300 crore to expand capacity to reach 34 million passenger capacity by 2024."
Passenger traffic at RGIA was 8 million in FY2020-21, witnessing a de-growth of 63 per cent over FY2019-20 due to lockdown and other Covid-19 restrictions. The airport handled over 21.50 million passengers during FY2020 though it is designed to handle 12 million passengers per annum.
