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India’s GMR Infrastructure to invest up to USD650 million in existng businesses

25-Nov-2009 12:47 PM

India’s GMR Infrastructure reportedly plans to invest up to USD650 million in its existing businesses, including aviation, infrastructure and power by the end of the current fiscal year, ending 31-Mar-2011 (Reuters, 24-Nov-2009). GMR reportedly expects Hyderabad International Airport to generate a profit next fiscal year, while Delhi International Airport will take another three years to break even, due to expenditure on the upcoming Terminal 3. GMR also reportedly plans to sell an additional 15 acres of land at Delhi Airport by Jan-2010 and another 25 acres in FY2010/11. The group already sold 30 acres of its original holding of 250 acres.