GMR Infra bags order from Maldive

by khalid on 25/06/2010 · 0 comments

Bangalore-based, GMR Group is a leading global infrastructure major with presence in the infrastructure and agri-business sectors. GMR Infrastructure has informed the market that its consortium with Malaysia Airports Holdings has won a bid to build, operate, modernise and expand Male International airport in Maldives. GMR consortium would operate the airport for the next 25 years, it said in a statement to the stock exchanges.

GMR builds and manages airports, roads and power plants in India. Its operations outside India include power plants in Europe, Mexico, Australia and Turkey.

The report stated the GMR proposed to pay $78 million upfront, 1 per cent of the total profit in the first year (until 2014) and 10 per cent of the profit from 2015 to 2035. The company also agreed to pay 15 per cent of fuel trade revenues in the first four years and 27 per cent from 2015 to 2035.

Another Indian bidder GVK Airport Developers reportedly offered USD 27 million as upfront payment, 27 per cent of the total profit in the first four years and 9 per cent of the profit from 2015 to 2035. The consortium agreed to pay 9 per cent of fuel revenues.

Another bidder, Turkey’s TAV Airports Holdings Company and French Airports De Paris Management offered $7 million upfront payment, 31 per cent of profit until 2014 and 29.5 per cent of profit for the remaining years. The companies offered 16.5 per cent of profits from fuel trade.

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