GHIAL, which is a step-down subsidiary of GMR Infrastructure Limited (GIL), on Wednesday received a letter of confirmation from the ministry for extending the concession agreement term from March 23, 2038, up to March 22, 2068.
The extension is in line with the Concession Agreement dated December 20, 2004.
In its regulatory filing, GMR said that the strategically located, Rajiv Gandhi International Airport at Hyderabad has established the city prominently on the global aviation map, and continues to contribute to the prosperity, growth, and all-around economic development of the region.
Notably, the Rajiv Gandhi Airport has emerged as the gateway to South & Central India. The airport was commissioned in a record time of 31 months and inaugurated in March 2008. The initial capacity of the airport was 12 million passengers per annum (MPPA), which went up to 21 MPPA in 2019 (pre-covid).
Currently, the airport is undergoing a major expansion, post which the capacity will get enhanced to 34 MPPA. The airport has 150,000 tons of cargo handling capacity per annum. The airport master plan has the flexibility to increase the ultimate capacity to over 100 MPPA in phases.
Being the country's first greenfield airport built under a public-private partnership model, the 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 deliver a seamless and enhanced experience to travellers. It is the first airport in India to introduce a unique e-boarding solution.
On BSE, GMR Infra shares closed at ₹36 apiece down by 4.76%.
