GMR to for four prime airports in Chennai, Kolkata, Jaipur and Ahmedabad

GMR Infrastructure, which operates two of the country's busiest airports in Delhi and Hyderabad, will bid for the four prime Airports Authority of India (AAI)-run airports in Chennai, Kolkata, Jaipur and Ahmedabad that the government has decided to privatise.

GMR Infrastructure, which operates two of the country's busiest airports in Delhi and Hyderabad, will bid for the four prime Airports Authority of India (AAI)-run airports in Chennai, Kolkata, Jaipur and Ahmedabad that the government has decided to privatise.

The four airports to be bid on a public-private partnership (PPP) basis are estimated to require a combined investment of Rs 1,839 crore, and the proposed scope of work includes further upgrade of terminal building, runway and other infrastructure.

AAI had invited request for qualification (RFQ) for operation, management and development of the four airports in January.

"We will continue to explore opportunities in the airport sector, both domestic and internationally, which includes operation and maintenance of four new airports in India," a GMR Group spokesperson said.

"AAI-run airports are in urgent need for an upgrade and it's good that the government has decided to privatise these," aviation expert Rajji Rai said.

Besides airports in Delhi and Hyderabad, GMR Infrastructure currently operates an international airport in Philippines. "We are unlocking value in subsidiaries and deleverage the balance sheet. We would be looking to raise equity capital through an IPO of GMR Energy and GMR Airports," the company spokesperson said.