GM Rao announces Rs 5,000 crore investment by GMR Group in Bhogapuram Airport, Andhra Pradesh

During the opening session of the Global Investors Summit 2023 in Visakhapatnam, GM Rao, the Chairman of GMR Group, announced that the company would be investing Rs 5,000 crore in the development of an international airport at Bhogapuram, near Visakhapatnam. They will construct the airport in phases, and the first phase will serve up to six million passengers per year.

According to Rao, the development of Bhogapuram Airport will involve the construction of a first phase that can accommodate up to six million passengers per year, with a long-term capacity of 40 million passengers per year. They expect to require an initial investment of around Rs 5,000 crore for this first phase.

He stated that the airport will feature modern cargo amenities that will serve the needs of both exports and the surrounding metropolis and airport city. The latter will encompass an industrial area, airspace region, as well as zones for education and healthcare.

Rao expressed his belief that the airport would emulate the triumph of Hyderabad aerodrome. This achievement, he believed, would aid in the advancement of Visakhapatnam city, as well as position the state as the most desirable destination for investment on a global scale.

The authorities will use the investment to construct the airport’s terminal building, runway, air traffic control tower, and other associated facilities. The airport will also have cargo facilities and a maintenance, repair, and overhaul (MRO) facility for aircraft.

We expect the development of Bhogapuram Airport to create several thousand jobs in the region, both during the construction phase and once the airport becomes operational. Improving connectivity and attracting investment is expected to give a boost to the region’s economy, as the airport will do.

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