GMR Infra ties up with AirAsia arm to bid for Thai airport
27 Sep 2019 15:10:42
GMR Infra has tied up with low-fare carrier Thai AirAsia as part of a consortium to bid for the $2 billion expansion project of the U-Tapao airport in Thailand, one of the cornerstones in the country’s plan to become an important trade hub, said people aware of the development.
The conglomerate has also shown an interest in an expansion project for the Batam airport in Indonesia, they said.
The first-of-its-kind tieup for GMR highlights its increasing focus on its profitable airport business--especially on international projects--as it aims to demerge it from the rest of the segments and list it as a separate entity, a move seen unlocking value for shareholders
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