GMR group actively looking for new investment opportunities in Greece

GMR group, the operator of Delhi, Hyderabad and Mopa airports, on Friday said it is actively looking for new investment opportunities in Greece, where it is already developing a greenfield airport in partnership with GEK TERNA.

The announcement from the group came days after Prime Minister Narendra Modi's recent visit to the European nation, the first by an Indian Prime Minister in 40 years.

GMR Group's Business Chairman for energy and international airports Srinivas Bommidala was a part of the business leaders luncheon hosted by the Greek Prime Minister during the visit, according to a GMR statement.

"GMR Group is already developing a greenfield airport at Crete in Greece in partnership with GEK TERNA. The Group is actively looking for new investment opportunities in Greece, which serves as a gateway to Europe for the Indians," the company said.

Greece has demonstrated a remarkable commitment to foreign investors like GMR Group from India, he said, adding that the Greek government's proactive approach and steadfast dedication to promoting foreign investments are truly impactful.

The company is "passionately exploring investment opportunities in the country, notably at Kalamata Airport," Bommidala stated.

"Progress at the Heraklion airport in Crete has been commendable. Construction has advanced to about 25 per cent, aligning with the project's timeline. Ongoing efforts include terminal building concreting, external access road development, runway, and taxiway construction," he added.

Further, he said that "the ambition to double bilateral trade by 2030 set by India and Greece is commendable. Improved connectivity between India and Greece will undoubtedly drive mutual GDP growth and a myriad of business opportunities."

"Our discussions ranged beyond airports, exploring other potential collaboration areas," he said.

The Heraklion International Airport (HER) in Crete is Greece's second busiest airport after Athens Airport.