In line with GMR Group's Asset Right and Asset Light Strategy, GMR Highways has signed a definitive agreement with India Infrastructure Fund (IIF) to divest 74 per cent stake in GMR Ulundurpet Expressways (GUEL).
Category: Aviation & Airports
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Pvt firms to invest Rs. 4,250 cr in 6 airports
Private companies are likely to invest Rs 4,250 crore in airports at Chennai, Lucknow, Kolkata, Ahmedabad, Guwahati and Jaipur. The Union government has identified these airports for privatisation in the current financial year.
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IDD seeks legal opinion on contract termination
The Infrastructure Development Department (IDD) of Karnataka government would seek the opinion of the Law Department on terminating the contract given to Gulbarga Airport Development (GADL) for the greenfield airport project.
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Tatas race for Chennai, Kolkata airport projects
Tata Group is likely to bid for 100 per cent stake in two airport projects Chennai and Kolkata airports.
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Cargo terminal for Imphal airport
The Union Ministry of Commerce and Industries has given its approval for setting up a cargo terminal at Imphal airport.
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More airports to adopt SITA services
The Airports Authority of India (AAI) has chosen world's leading specialist in air transport communications and information technology SITA's next generation airport management system to transform operations at 10 airports across India.
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Air India hopes to meet govt set fiscal targets
Air India CMD Rohit Nandan has stated that despite an unexpected increase in aviation fuel cost and wild fluctuation of rupee against the dollar, the national carrier is hopeful of meeting its financial targets in the second quarter of this fiscal. The company has managed to bring its losses down to about Rs 11 crore per day from around Rs 50 crore per day, he added.
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GMR divests majority stake in GUEL to India Infrastructure Fund of IDFC
In line with GMR Group's Asset Right and Asset Light Strategy, GMR Highways Ltd has signed a definitive agreement with India Infrastructure Fund (IIF) to divest 74% stake in GMR Ulundurpet Expressways Private Limited ('GUEL').
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Mumbai to have first branch of Bharatiya Mahila Bank
Mumbai's Nariman Point, the city's premier business district, is to have India's first bank exclusively for women by next November. It is called Bharatiya Mahila Bank and is going to be opened in the iconic Air India building in the area. The first branch of the bank will be in a 5,000 sq ft space in the building.
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AAIs best CSR practice
Airports Authority of India (AAI) bagged the '3rd Asia's Best CSR Practice Award' under the category Developing Sustainable Strategies for the year 2013. The award was received by Manoj Kumar, AGM (HR), AAI, in an inspiring event held in Singapore.