GMR in BOT for new airport in Crete

GMR Airports Limited has been selected to develop, operate and manage the new international airport of Heraklion at Crete in Greece in partnership with Greek infrastructure firm Terna SA. This will be the second project to be handled by this subsidiary of GMR Infrastructure Ltd in Europe, after it developed Istanbul’s Sabiha Gokcen airport. The company will be the designated airport operator in the consortium for this project. “The scope of the project involves design, construction, financing, operation, and maintenance and exploitation of the New Heraklion Crete International Airport. The concession period for the project will be 35 years, including phase 1 construction of five years. ”