Page 2 - Gmr

GMR Group to divest 30% stake in Indonesia's PT GEMS for $420 mn

Infrastructure conglomerate GMR Group will divest 30 per cent stake in Indonesia-based bituminous coal mining firm PT Golden Energy Mines (PT GEMS) for USD 420 million (around Rs 3,360 crore), according to a regulatory filing. The divestment will give thrust to GMR's non-airport business through reduction of leverage and give a platform for the growth of its clean energy initiatives. GMR Coal Resources Pte Ltd (GCRPL), a step-down subsidiary of GMR Power and Urban Infra Ltd (GPUIL), has signed definitive pacts to offload the 30 per cent stake it holds in PT GEMS to PT Radhika Jananta Raya, an arm of PT ABM Investama Tbk (ABM), following a competitive bidding process, the filing said. GPUIL -- a subsidiary of GMR Enterprises (GEPL) -- holds expertise in the energy, urban infrastructure and transportation sectors. GCRPL will receive a gross consideration of USD 420 million on closure, GPUIL said in a filing to BSE, adding it will also get a deferred consideration based on mutually .

Delhivery set to expand infra footprint in Greater Mumbai, Bengaluru

Ties up with Welspun for a 700,000 sq ft mega-gateway in Greater Mumbai, and with GMR for one million-plus sq ft in Bengaluru; both will be operational by 2023

Adani, GMR Sports throw hat into Amit Burman-promoted Kho Kho league

Adani Sportsline picks up Gujarat team, GMR Sports gets the Telangana franchise

Airport PPPs on a crowded runway; private sector bids could be subdued

Last August, the government announced intent to sell stakes in four privately-run airports (Delhi, Mumbai, Hyderabad and Bengaluru) and lease 25 other airports owned by AAI under NMP

GMR partners with Angkasa Pura II for Medan Airport in Indonesia

GMR Airports, a part of the GMR group, had in November won the bid for this high growth potential brownfield airport, through a closely contested international competitive bid process

GMR wins bid to develop, operate Indonesia's Kualanamu Int'l Airport

The group will tie up with the state-owned enterprise, Angkasa Pura 2 (AP2) on a 49:51 basis

GMR to invest Rs 500 cr in metro rail link project to Hyderabad Airport

The GMR group will be investing over Rs 500 crore in a Rs 5000 crore metro rail link project being proposed by the Telangana government for connectivity to the aerodrome from various parts of the city

GMR spending Rs 20k Cr on airports' expansion, developing new ones

: GMR Group is currently investing Rs 20,000 crore to expand the existing airports and developing new aerodromes, GM Rao, Chairman of the infra major has said. "Airport Development and Construction: GMR Group has set benchmarks for development of world class Airport infrastructure... Your company is currently investing approximately Rs 20,000 crore to expand the existing Airports and develop new Airports," he said in the group's latest annual report. GMR's airport business comprises of four operating airports- Indira Gandhi International Airport, Delhi, Rajiv Gandhi International Airport, Hyderabad, Bidar Airport at Karnataka and Mactan Cebu International Airport in the Philippines. Further, two assets Greenfield Airports at Mopa, Goa and Crete International Airport in Greece are under construction. The group has also signed the concession agreement for a Greenfield Bhogapuram International Airport in Andhra Pradesh in June 2020 and development works are currently in ...

SEZ stake sale: GMR receives Rs 1,692 cr from Aurobindo Realty

GMR said it received Rs 1,692 crore as first tranche of consideration towards the sale of equity owned by GMR SEZ and Port Holdings Limited in Kakinada SEZ Limited

GMR to raise $300mn through bonds for Hyderabad airport expansion

GMR Hyderabad International Airport Limited (GHIAL) on Wednesday announced that it successfully priced an offering of US$ 300 million bond in the international bond market

Fitch downgrades Delhi International Airport to 'BB'; outlook negative

Fitch downgraded Delhi International Airport Ltd's Long-Term Issuer Default Rating from "BB+" to "BB" on the sharp drop in volume in 2020 due to significant travel restrictions to curb Covid spread

GMR, L&T, BHEL among 13 players shortlisted for operating private trains

The operators would be selected after the requests for proposals (RFP) are submitted with a revenue share quote

32 firms show interest in redevelopment of four railway stations

Nagpur, Gwalior, Amritsar, Sabarmati may see Rs 1,300-crore investment

GMR inks pact with Andhra govt to develop greenfield airport near Vizag

GMR won the bid by offering to pay Rs 303 per passenger fee

GMR signs concession agreement for greenfield international airport in AP

The group would develop, maintain and operate the airport for 40 years, extendable by another 20 years via international competitive bidding

Moody's downgrades Hyderabad Airport's rating to Ba2, Delhi's IGI gets Ba3

The outlook on the ratings for both has been changed to negative from ratings under review

Leave the PSUs alone for now

Government sell-off is a stimulus for itself and might not work at this juncture

Covid-19 impact: JSW Energy puts GMR Kamalanga acquisition on hold

In February, JSW Energy said it would acquire GMR's Kamalanga power project (1,050 Mw) in Odisha for Rs 5,321 crore.

GMR Hyderabad Aviation SEZ to build cargo warehousing facility for SpiceJet

SpiceJet on Friday signed an agreement with GHASL for developing the facility

JSW Energy to purchase GMR's Kamalanga power project for Rs 5,321 cr

Post-acquisition, the total installed power generation capacity of JSW Energy will increase to 5,609 MW