GMR Infrastructure Limited on Friday said its subsidiary GMR Airports and its Greek JV partner Terna-Group have inked a concession agreement for building of the new international airport in Greece’s island Crete. The consortium plans to invest about Rs4034.28-crore for development of the new airport, GMR Infrastructure said in a regulatory filing.
Under the agreement, GMR Airport will work on construction, design, financing, operation, maintenance & exploitation of new airport. The investment will be 500-million euro or INR4034.28-crore for the project.. The concession period is 35 years including first-phase construction of five years.
On Friday during first afternoon, the stock of GMR Infrastructure touched an intraday high of Rs16.65 per share. At 3.00pm stock was trading at Rs16.60, up 2.79percent. Meantime, the BSE benchmark Sensex continue flat at 35,880, down 18points and Nifty50 flat at 10789.