GMR Infra plans to postpone expansion of Delhi airport

GMR Infrastructure Ltd is considered postponing a part of the planned capital expenditure for expansion of Indira Gandhi International Airport in Delhi for prudent use of funds amid the pandemic, the company said in its annual report for 2019-20 (Apr-Mar).

Indira Gandhi International Airport is operated by Delhi International Airport Ltd, a consortium wherein GMR Infrastructure through its arm GMR Airports Ltd has 64% stake, Airports Authority of India 26% stake, and Fraport AG Frankfurt Airport Services Worldwide 10%.

Delhi International Airport is currently undertaking expansion of the airport under phase-3A, which includes expansion of terminal-1 and terminal-3, construction of a fourth runway along with enhancement of air fields and construction of taxiways, which will help expand the capacity of the airport to 100 mln passengers annually from the current 66 mln.

For the expansion plan, the airport operator had raised up to $500 mln through issuance of bonds. Apart from Indira Gandhi International Airport in Delhi, the company operates Rajiv Gandhi International Airport at Hyderabad, and Mactan Cebu International Airport in the Philippines, and is developing airports at Mopa in Goa and the Crete International Airport in Greece. Af ter a favourable judgment from the Supreme Court in an environment impact assessment case, the company has commenced construction at Mopa airport.