GMR Infra wins greenfield Heraklion Airport in Crete Island, Greece

7 June 2017
1129 Views

GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, today announced that it has been selected to develop, operate and manage the New International Airport of Heraklion at Crete in partnership with Greek infrastructure major TERNA S.A. (100% subsidiary of GEK TERNA Group). GMR Airports Limited will be the designated Airport Operator in the consortium for this project.

GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, today announced that it has been selected to develop, operate and manage the New International Airport of Heraklion at Crete in partnership with Greek infrastructure major TERNA S.A. (100% subsidiary of GEK TERNA Group). GMR Airports Limited will be the designated Airport Operator in the consortium for this project.

Greece is a major International tourist destination, with 24 mn tourists per annum. Crete is the largest and the most visited island in Greece. Heraklion Airport, located in Crete, is the 2nd largest in Greece and has witnessed steady traffic growth in the last 3-4 years. The existing Heraklion Airport is handling over 6 million passengers annually and is facing capacity constraint. The new Kastelli Airport, once completed, will replace Heraklion airport.

The scope of the project involves design, construction, financing, operation, and maintenance & exploitation of the New Heraklion Crete International Airport. The concession period for the Greenfield project will be 35 years including Phase 1 Construction of 5 years.

Stock view:

GMR Infrastructure Ltd is currently trading at Rs 16.65, up by Rs 0.4 or 2.46% from its previous closing of Rs 16.25 on the BSE.

The scrip opened at Rs 16.4 and has touched a high and low of Rs 16.85 and Rs 16.4 respectively. So far 12706277(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 9808.41 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 19 on 02-Jun-2017 and a 52 week low of Rs 10.25 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 19 and Rs 14.65 respectively.

The promoters holding in the company stood at 61.66 % while Institutions and Non-Institutions held 28.25 % and 10.09 % respectively.

The stock is currently trading above its 50 DMA.

You may be interested

PM Mitsotakis cites Greek Constitution to back mandatory vaccinations
GREECE
shares15 views
GREECE
shares15 views

PM Mitsotakis cites Greek Constitution to back mandatory vaccinations

makis - Jul 23, 2021

Prime Minister Kyriakos Mitsotakis cited the Greek Constitution in response to those opposing mandatory Covid-19 vaccination during his meeting with…

Who Has Spent The Most Time In Space? (infographic)
WORLD
shares27 views
WORLD
shares27 views

Who Has Spent The Most Time In Space? (infographic)

Panos - Jul 22, 2021

As Russia celebrates 60 years since Yuri Gagain became the first person to orbit the Earth, the state of space travel looks…

What Do Americans Think Of Famous Billionaires? (infographic)
FINANCE
shares29 views
FINANCE
shares29 views

What Do Americans Think Of Famous Billionaires? (infographic)

Panos - Jul 22, 2021

Hot on the heels of fellow billionaire Richard Branson, Amazon founder Jeff Bezos is set to blast into space. He…

Leave a Comment

Your email address will not be published.