New Investment Could Give GVK Renewed Impetus

By Kevin Rozario (London, United Kingdom)

The diversified Indian conglomerate known as GVK has interests across many sectors including energy, transportation, hospitality, life sciences – and of course airports. The company is listed on Mumbai’s BSE exchange, formerly known as the Bombay Stock Exchange, as GVK Power & Infrastructure Limited.

Over a relatively short time, GVK has taken some big steps in modernizing India’s ageing airport infrastructure. A deal put together last year to bring in three new shareholders is designed to ensure that GVK continues down that track (see further below for details).

GVK made its foray into the aviation sector when it started the contract to operate, manage and develop Mumbai’s Chhatrapati Shivaji Maharaj International Airport (GVK CSMIA) in 2006. This was India’s first brownfield airport and is run by Mumbai International Airport Limited (MIAL).

The opening of the iconic Terminal 2 at Mumbai Airport in 2014 boosted GVK’s global reputation. The design drew inspiration from India’s national bird, the peacock, and its facilities have received multiple awards since then. The extra infrastructure has enabled Mumbai to handle more than 45 million passengers annually and 1.5 million metric tonnes of cargo through the associated cargo complex.

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