Business Daily from THE HINDU group of publications
Sunday, Apr 06, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Apr 06, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Restructuring GMR Infra incorporates oil and gas subsidiary Our Bureau Bangalore, April 5 GMR Infrastructure Ltd has incorporated a subsidiary company — GMR Oil and Natural Gas Pvt Ltd. The new company has been set up with the objective of exploring future opportunities in the sector. The company, with its headquarters in Bangalore, has been incorporated with a paid-up capital of Rs 1 lakh. A spokesperson of the company, which informed the Bombay Stock Exchange about the venture, said that it has not been set up with any immediate project in mind. The venture was part of the long term strategy to add to its business portfolio. Hyderabad airportGMR Infrastructure is currently engaged in power generation, airport and road projects. The company will be commencing commercial operations from its greenfield international airport in Hyderabad, while it is implementing the modernisation project of the Delhi airport. It had recently bagged a similar project in Turkey. The spokesperson declined to comment if the proposed venture would be inducting any strategic equity partners for the oil and gas venture. More Stories on : Restructuring | Petroleum
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