Business Daily from THE HINDU group of publications
Monday, Mar 24, 2008
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Business Daily from THE HINDU group of publications Monday, Mar 24, 2008 ePaper | Mobile/PDA Version |
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Infrastructure Corporate - Overseas Investments GMR Infra sets eyes on Europe, Gulf, Asean
In the immediate agenda are the airports in developing countries that are witnessing high traffic growth. K.V. Kurmanath Recently in Ankara (Turkey) With an eye on emerging opportunities in infrastructure globally, the Bangalore-based GMR Infrastructure has established International Business Division (IBD) with headquarters in London. The mandate for IBD is to scout for projects in Europe, North Africa, the Gulf and ASEAN regions in the areas of airport development, energy and highway projects. The company, which had taken a decision last year to expand globally, had clinched the bid for expansion of Sabiha Gokcen airport in Istanbul after grueling 14-hour tender process in July 2007. The airport would be handed to the GMR-led consortium to take care of its operations and expansion in the next two months. Istanbul project“The Istanbul project will give us a foothold to look at opportunities in emerging Europe, North Africa and the Gulf regions,” Mr Ranjit Murugason, Chief Executive Officer (IBD) of GMR, told Business Line, in a trip organised by GMR in connection with the signing-in for the concession for the Sabiha Gokcen airport. Asked about the investments required for its global business needs, Mr Murugason said investments would come in as and when required for the projects. As it bagged the concession for developing the Sabiha Gokcen airport, GMR has opened an office in Turkey to explore opportunities in other infrastructure areas. It roped in Mr Cenk of Turkey as CEO for its operations in that country. Global operationsThe company saw Turkey as the right choice to kick start its global operations. “There are a lot of similarities. Take for example the aviation sector, the two countries have been witnessing huge growths,” he said. In the immediate agenda are the airports in developing countries that are witnessing high traffic growth. Mr G.B.S. Raju, Chairman (Corporate and International Business) of GMR, said the company saw a huge opportunity in airport development globally, with civic authorities looking at expanding the capacities and opening new airports, keeping in mind the unprecedented growth in the aviation sector. The company’s strategy included developing structural and organisational capabilities within its core areas. “We are going to handle baggage and ground-handling at the Sabiha Gokcen airport. At present, we are not doing these back home. This will help us acquire new strengths within the verticals we are handling,” Mr Raju explained. More Stories on : Infrastructure | Overseas Investments
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