GMR Group unlocks asset value at Krishnagiri in collaboration with TIDCO
Mohan | Myequity news | Date: 26-08-2018 22:45:00 IST
GMR Infrastructure Ltd, the flagship company of GMR Group, India’s major infrastructure conglomerate, announced that its subsidiary, GMR Krishnagiri SIR Ltd (GKSIR), is set to invite investments from national and international investors at its large industrial area which is a joint venture with Tamil Nadu Industrial Development Corporation (TIDCO).
GKSIR will be developed in an area of 2100 acre in Denkanikottai, Hosur and Shoolagiri taluka’s of Krishnagiri district. Through the SIR, GMR plans to unlock the value of the land in the district and thereby attract companies to invest in activities like manufacturing, services, commercial, education, research & development, skill development & training, tourism & hospitality, health, housing, entertainment etc.
The proposed GKSIR will focus on hi-tech industries in the field of Auto & Auto components, Defence & Aerospace, Electrical & Electronics, Precision Engineering, Food processing, Textiles & Logistics along with necessary Social, Commercial & Residential infrastructure.
GMR has already invested in the land and does not plan any major investment, other than development of infrastructure. The basic infrastructure that is being planned includes development of plots of varying sizes with “plug-n-play” utilities like good wide road network, storm drainage, water supply, sewerage, WTP, STP, power supply & digital infrastructure. GKSIR is strategically located providing connectivity to multiple road network like SH 85, NH 844, access to 6 lane NH 44 and close to the proposed Satellite Township Ring Road.
Speaking on the occasion, Thiru. BVN Rao, Business Chairman (Urban Infrastructure & Transportation), GMR Group said, “The GMR Group is committed to developing & operating large infrastructure projects which will contribute to nation building and one such fine example is the Krishnagiri special investment region. GMR will provide plotted land both on long lease as well as outright sale to attract companies to invest in state and provide direct and indirect employment opportunities for people of Tamil Nadu. The region will also support the dream and vision of Government of Tamil Nadu’s Industrial Policy 2014 to promote industrial development and provide employment opportunities in the state.”
The other dignitaries, who graced the foundation stone laying occasion, include Hon’ble Minister for Industries Thiru. M.C. Sampath, Hon’ble Minister for Youth Welfare and Sports Development Thiru. P. Balakrishna Reddy, Dr. (Tmt.) Girija Vaidyanathan (IAS), Chief Secretary, Government of Tamil Nadu; Thiru. K. Gnanadesikan (IAS), Additional Chief Secretary for Industries, Government of Tamil Nadu, Thiru. Ramesh Chand Meena (IAS), Chairman & Managing Director, TIDCO, Thiru, G M Rao, Group Chairman, GMR Group and Thiru. BVN Rao, Business Chairman - Urban Infrastructure & Transportation, Thiru. M. Srinivas, COO - GKSIR, GMR Group among others
About GMR Infrastructure Limited
GMR Group, a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure, is listed on Indian Stock Exchanges.
GMR Group’s Airport portfolio has around 159 mn passenger capacity in operation and under development, comprising of India's busiest Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport, Mactan Cebu International Airport in partnership with Megawide in Philippines. While greenfield projects under development includes Airport at Mopa in Goa and Airport at Heraklion, Crete, Greece in partnership with GEK Terna. Recently, the GMR-Megawide consortium has won the Clark International Airport’s EPC project, the second project in Philippines. It is also developing smart cities adjacent to Delhi and Hyderabad airports.
The Group’s Energy business has a diversified portfolio of around 6,800 MWs, of which 4,500 MWs of Coal, Gas and Renewable power plants are operational and around 2,330 MWs of power projects are under various stages of construction and development. The group also has coal mines in Indonesia, where it has partnered with a large local player.
Transportation and Urban Infrastructure division of the Group has six operating highways project spanning over 2,000 lane kms. The Group has a large EPC order book of railway track construction including Government of India’s marquee Dedicated Freight Corridor project. It is also developing multi-product Special Investment Regions spread across ~2100 acres at Krishnagiri in Tamil Nadu and 10,400 acres at Kakinada in Andhra Pradesh.
GMR Group, through its Corporate Social Responsibility arm, GMR Varalakshmi Foundation carries out community-based development initiatives at 27 different locations across India and abroad.