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Hyderabad Airport to receive Rs 6,300 crore to increase capacity to 34 million passengers

The airport will be receiving Rs 6,300 crore in order to increase its passenger capacity to 34 million.

The Hyderabad Airport will be receiving Rs 6,300 crore to increase its capacity to 34 million passengers.

In February 2020, GMR Infrastructure Limited (GIL) had announced a strategic partnership with Groupe ADP for its Airports Business. Groupe ADP has acquired a 49% stake in GMR Airports.

“INR 6,300 crores are getting invested by the Hyderabad airport to increase the Airport's capacity to 34 million passengers”. (Larger than Paris/Orly Airport).’’ said Antoine Crombez, Deputy CEO, GMR Airports Ltd.

Ambassador of France to India, Emmanuel Lenain said: “French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this thriving, innovation-oriented state. Many French groups have already invested in Telangana, particularly in biotech, IT, and aeronautics. These Indo-French business endeavors in key sectors in Telangana also help to strengthen the strategic partnership between our two countries ”.

Minister of Municipal Administration and Urban Development of Telangana KT Rama Rao has said that many more companies from France are showing interest in investing in Telangana.

"If any company wants to invest in India and can mention what other states are offering, we will meet their offer or beat their offer,’’ he said.

Telangana is a key state for French investment in India and can already see the strong and successful establishment of companies like Safran, Sanofi, Mane, Monin, Capgemini, among many others.

This is the fourth edition of the Indo-French Investment Conclave, previous editions were held in Nagpur, Goa and Tamil Nadu in 2018, 2019, and 2021 respectively.

IFCCI Investment Conclaves are aimed at focusing on promising states to attract French Investments and boost Indo-French trade.

Source : India Today