GMR Infrastructure plans to raise Rs 4,000 crore by FY16 through divestment of assets and share sale to reduce debt and ease cash flow. The loss-making infrastructure company plans to divest projects, monetise land assets and sell stake at holding company level to raise funds.
Category: Aviation & Airports
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Panel for Air India´s performance
The National Democratic Alliance (NDA) Government plans to set up an expert panel to find ways to improve Air India´s performance but presently no proposal is being considered for its privatisation, said Civil Aviation Minister Ashok Gajapathi Raju Pusapati.
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PPP model of airport development lauded
Public-private partnership (PPP) in the development of airports has been flagged as ´one of the significant achievements´ in the civil aviation sector, in the Economic Survey 2014-15. The Survey points out that the PPP model has led to a significant improvement in infrastructure and in collection of revenue.
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GVK, GMR keen on airport projects
Eight companies, including GMR Airports, GVK Group and Adani Ports and Special Economic Zone (APSEZ), have evinced interest in the government project to modernize the airports in Kolkata, Chennai, Ahmedabad and Jaipur.
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Airport, Metro projects will add Rs.1,450 crore to GDP
According to the audit by the National Council of Applied Economic Research (NCAER), big-ticket projects of airport-related infrastructure and Mumbai Metro will contribute Rs 1,450 crore in income to country´s gross domestic product during the entire construction phase (2014-15 to 2018-19).
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ThyssenKrupp launches ACCEL
This is a game-changing transportation system set to accelerate transit times in cities and airports.It is unique; passengers enter walking at a regular speed and get accelerated at high-speeds to the other end. Applying linear motor technology from the Transrapid magnetic train, the ACCEL transportation system will facilitate fast access to metro stations, making it possible to have a station entrance at less than 600 metres from any commuter, attracting up to 30% additional passengers.
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Goyal pledges entire 51% stake in Jet
Jet Airways promoter and Chairman Naresh Goyal has pledged his entire 51 per cent shareholding in the carrier, valued at about Rs 2,600 crore, to State-run Punjab National Bank (PNB).
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Privatisation of four airports on the cards
Civil Aviation Minister Ashok Gajapathi Raju has said that the Ministry was considering privatisation of four airports in the country, including the Ahmedabad Airport. ´We are thinking of privatising four airports in India.
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13 airports to become CAT-III compliant
Thirteen more airports in the country, including Amritsar, Jaipur, Chandigarh, Kolkata, Patna and Lucknow, will soon become CAT-III compliant, a step which will ensure seamless flight operations even during fog.
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Arunachal Pradesh wants air hubs
Arunachal Pradesh has urged the Centre to develop airports and other ancillaries in the State in its new aviation policy. The matter was raised by the Arunachal Civil Aviation Minister Thangwang Wangham in a meeting for consultation of the Draft Civil Aviation Policy, convened by the Union Minister of Civil Aviation Ashok Gajapathi Raju in New Delhi.