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Hyderabad April 5 A consortium floated by the Switzerland-based Nuance Group and the Indian retail company Shoppers' Stop has bagged the retail concession at the upcoming GMR Hyderabad International Airport (GHIAL) at Shamshabad near here.

The seven-year contract, for about 28,450 sq. ft. retail space, which will commence in March next when the airport begins commercial operations, is expected to register revenues to the tune of $240 million, a Nuance-Shoppers' Stop press release said.

Mr T. Srinagesh, Chief Operating Officer of GHIAL, said the concession allowed the consortium to set up six stores - three each in domestic and international terminals. The total area of stores in the international terminal is put at 25,000 sq. ft., including a 12,770-sq.ft. outlet at the arrival area. The domestic stores would be set up in a total area of 3,100 sq.ft.

The international retail would be handled by Nuance Group (India) Private Ltd (joint venture between Nuance and Shoppers' Stop) and the domestic retail would be managed by the Indian partner.

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