The Ministry of Civil Aviation has permitted GMR Hyderabad International Airport (GHIAL) to extend the period of Concession Agreement for operation of Rajiv Gandhi International Airport in Hyderabad for a further period of 30 years.
GHIAL, which . is a step-down subsidiary of GMR Infrastructure Limited (GIL) on Wednesday received a letter of confirmation from the ministry to extend the period of the concession agreement from March 23, 2038 to March 22, 2068.
The extension is in line with the concession agreement dated 20 December 2004.
In its regulatory filing, GMR said that the strategically located, Rajiv Gandhi International Airport in Hyderabad has placed the city prominently on the global aviation map, and continues to contribute to the region’s prosperity, growth and economic growth. .
Notably, Rajiv Gandhi Airport has emerged as a gateway to South and Central India. The airport was commissioned in a record time of 31 months and was inaugurated in March 2008. The initial capacity of the airport was 12 million passengers per annum (MPPA), which increased to 21 MPPA in 2019 (pre-Covid).
Currently, the airport is undergoing a major expansion, after which the capacity will increase to 34 MPPA. The airport has a cargo handling capacity of 150,000 tonnes per year. The airport master plan has the flexibility to increase the final capacity to more than 100 MPPA in phases.
Being the first greenfield airport in the country to be built under the Public-Private Partnership model, Rajiv Gandhi Airport is the only airport in the country to have an end-to-end digital passenger processing system. Hyderabad Airport is now at the forefront of leveraging technology to provide a seamless and enhanced experience to the passengers. It is the first airport in India to offer a unique e-boarding solution.
Shares of GMR Infra closed on BSE 36 each, down 4.76%.