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GMR Hyderabad International Airport Ltd, a subsidiary of GMR Infra, has awarded the airport expansion contract to construction major L&T and Megawide Corporation.
GMR Hyderabad International Airport, which operates the Rajiv Gandhi International Airport, is expanding the terminal building, airside infrastructure and allied infrastructure to achieve 34 million annual passenger (MAP) throughput from the existing design capacity of 12 MAP.
It has issued a letter of award for the construction of terminal building and airside infrastructure through international competitive bidding on L1 basis to Larsen & Toubro for Rs 3,028 crore and Megawide Construction Corporation for Rs 980 crore.
The proposed expansion works are expected to be completed in 42 months from the date of award. The Rajiv Gandhi International Airport set up about a decade ago is functioning at its full capacity.
Resolution
The board of directors will seek shareholders’ nod for an enabling resolution to raise funds up to Rs 2,500 crore in one or more tranche(s), through issue of equity shares or equity linked instruments, debentures or any other securities.
It will also seek their approval to raise up to Rs 450 crore in one or more tranche(s) through issue of optionally convertible debentures (OCDs). The aforesaid enabling resolution and resolution for issue OCDs is subject to the approval of shareholders.
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