GHIAL gets Rs 718cr funding for Shamshabad's airport

Saturday, March 17, 2007, 20:12 [IST]

New Delhi, Mar 9 (UNI) GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of GMR Infrastructure Ltd, today executed the financing agreements for an additional financial assistance of Rs 718 crore.

The additional facility of Rs 718 crore comprises a debt of Rs 200 crore and an external commercial borrowing (ECB) of Rs 518 crore.

GHIAL is developing a Greenfield Airport at Shamshabad, in Hyderabad.

This assistance will provide 100 per cent funding for the extra facilities provided to cater for increased traffic of up to 12 million passengers per annum with corresponding increase in air traffic movements, a company statement said.

The airport will now also have a common fuel farm facility and a business hotel.

The ECB has a repayment moratorium of two years from the date of airport commercial operations and a structured payment pattern spread over 14 years thereafter.

UNI

Topics: AVIATION-GHIAL-AGREEMENT

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