GMR Infra stock rises after GMR Airports selected to develop airport in Greece
BusinessToday.In February 22, 2019
GMR Infra stock rose nearly 3% after the company announced about signing a concession agreement for construction of the new international airport in Greece's island Crete.
On National Stock Exchange, the company reached an intraday high of Rs 16.25, also the stock's two weeks high, from the previous close of Rs 16.15, a rise of 3 percent.
The share price rose 3.1 percent from the previous close of Rs.16.10 at an intraday high of Rs 16.60 on Bombay Stock Exchange.
GMR Infra Structure informed the exchanges that a subsidiary of GMR Infrastructure Limited along with Greek partner TERNA Group signed the concession agreement for design, construction, financing, operation, and maintenance & exploitation of new international airport of Heraklion at Crete, Greece. The concession period for the project is 35 years including phase.
The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) and aims for design, construction, financing, operation, and maintenance of new international airport of Heraklion at Crete.