GMR to focus on cross-border energy, airport construction biz
Diversified GMR Group plans to focus on cross-border energy and airport construction businesses for which it has developed an internal “global infrastructure policy”.business Updated: Mar 17, 2009 17:45 IST
Diversified GMR Group plans to focus on cross-border energy and airport construction businesses for which it has developed an internal “global infrastructure policy”.
“The idea behind developing the policy is to segregate domestic and international business opportunities. Under the policy, we would focus on energy and airports,” GMR Infrastructure Ltd Chief Operating Officer (International Business Development) Madhu Terdal told PTI on Tuesday.
The global investment scenario in the two businesses is dominated by either funds or banks but the GMR Group would be able to bring entrepreneurial development to these projects, he said.
Under the policy, the Group would look for opportunities in Indonesia, Singapore and Vietnam in Asia, Romania in East Europe, the UK and various countries in North Africa.
“We have identified the locations based on their potential to grow,” Terdal said.
GMR, which recently won the Infrastructure Acquisition of the Year Award for its $1.1 billion acquisition in power generation company InterGen N.V. at an international award ceremony, is also eyeing an innovative method of funding for these projects, he said.
However, Terdal declined to give details of the funding programme saying GMR has adequate capacity to raise funds.