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Aviation

GMR Infrastructure to focus on constructing large airports

6/9/2009 2:38:50 AM

Mumbai, June (EPC NEWS): GMR Infrastructure Ltd., which aims to raise Rs 50 billion by selling shares to institutional investors, will focus on building and operating large airports.

Currently the comnapy is looking at airports which handle more than 5 million passengers. "Developing and running such airports is our long-term strategy," said G. M. Rao, chairman, GMR Infrastructure Ltd. The company is also builds power projects and highways.

Its parent GMR Group is the lead member of the consortia that developed and run the international airports in Delhi and in the southern city of Hyderabad. The Delhi airport handled 22.8 million passengers in the financial year that ended March 31, while the Hyderabad airport has a capacity to handle 12 million passengers a year. Mr. Rao said GMR, which plans to raise the funds by selling about 11% of the company, hasn't yet identified any projects to invest these funds.