GMR says Istanbul airport venture gets Rs 2236.52 cr loan
GMR says that ISG International Airport Investment Development and Operation Inc has signed an agreement with ABN AMRO Bank and Yapi Kredi Banks, for a loan of Euro 336 million (Rs 2236.52 crore).
By PTI |
MUMBAI: GMR Infrastructure on Wednesday said that ISG International Airport Investment Development and Operation Inc, in which the company owns a 40 per cent stake, has signed an agreement with ABN AMRO Bank and Yapi Kredi Banks, for a loan of Euro 336 million (Rs 2236.52 crore).
Istanbul Sabiha Gokcen (ISG) was formed by the consortium of GMR Infrastructure Ltd, Limak Holdings and Malaysia Airports Holdings Berhad. Limak Holdings and Malaysia Airports have 40 per cent and 20 per cent stake in ISG, respectively.
ISG had won the 20-year operation rights of the International Airport on May 1, 2008, the company said in a filing with the Bombay Stock Exchange.
The loan, in accordance with the related articles of the agreement signed between ISG and the Undersecretariat for Defence Industries would be used for the terminal and ground operations at the airport as well as the construction of the new international terminal building, it said.
ABN AMRO Bank and the Yapi Kredi Bank, the 50-50 partners of the consortium, founded for this purpose, have made a payment plan with a 13.5-year period, foreseeing five-year without payment, it said.
Another financial enterprise, Bank Asya, has issued the performance bond worth of 118 million euros, it said.
The new terminal and its facilities would have 96 check- in counters, 30 online check-in counters, a total of 32 X-ray units, two-storey VIP terminal, a three-story car park and a 60-room hotel.
Istanbul Sabiha Gokcen (ISG) was formed by the consortium of GMR Infrastructure Ltd, Limak Holdings and Malaysia Airports Holdings Berhad. Limak Holdings and Malaysia Airports have 40 per cent and 20 per cent stake in ISG, respectively.
ISG had won the 20-year operation rights of the International Airport on May 1, 2008, the company said in a filing with the Bombay Stock Exchange.
The loan, in accordance with the related articles of the agreement signed between ISG and the Undersecretariat for Defence Industries would be used for the terminal and ground operations at the airport as well as the construction of the new international terminal building, it said.
ABN AMRO Bank and the Yapi Kredi Bank, the 50-50 partners of the consortium, founded for this purpose, have made a payment plan with a 13.5-year period, foreseeing five-year without payment, it said.
Another financial enterprise, Bank Asya, has issued the performance bond worth of 118 million euros, it said.
ADVERTISEMENT
The new terminal and its facilities would have 96 check- in counters, 30 online check-in counters, a total of 32 X-ray units, two-storey VIP terminal, a three-story car park and a 60-room hotel.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
