GMR Infra to give priority in jobs to Agniveers in its security solutions arm

GMR Infrastructure Limited on Tuesday said it will give priority in jobs to Agniveers in its subsidiary firm RAXA Security Solutions Ltd NSE -0.33 %. RAXA Security Solutions provides man-guarding services, techno security solutions, fire and cyber security services. 

The central government has recently launched the Agnipath scheme for youth willing to join the Armed Forces and serve the country. 

Inspired by the scheme, GMR Infrastructure has decided to give high priority to Agniveers who are willing to pursue a new career in the private security domain and offer them employment in its security firm RAXA Security Solutions for a variety of assignments, the company said in a statement.

The Agnipath scheme for the armed forces announced on June 14, provides for the recruitment of youth between the age bracket of 17-and-half years to 21 only four years, with a provision to retain 25 per cent of them for 15 more years. The others would retire without gratuity and pension benefits. Later, the government extended the upper age limit to 23 years for recruitment in 2022.

Protests have erupted in several states against the scheme. 

"Corporate world would offer a vast horizon to these Agniveers after they retire from active duty of the Armed Forces. There are various fulfilling job opportunities that a security company like RAXA has. We believe that with their discipline, teamwork, and training skills, Agniveers shall be a great asset for RAXA," said Ashwani Lohani, CEO of GMR Services Business.

GMR Hyderabad Airport launches help desk to aid migrants

The GMR Hyderabad International Airport (GHIAL), in partnership with Telangana Overseas Manpower Company Limited (TOMCOM) on Wednesday launched a 24*7 migrant help desk dedicated to vulnerable migrants traveling abroad.

The help desk will especially cater to Kuwait and Qatar on a trial basis.

The desk will help and guide vulnerable migrants like domestic workers, housemaids, and laborers about safe, legal migration, and the paperwork needed for emigration clearance.

Speaking about the initiative CEO-GHIAL Pradeep Panicker said, “In the last few years we have seen a gradual rise of outbound migrant workforce traveling from Hyderabad to the Middle East. Quite often, most of these migrant workers are ignorant of the procedures and documentation needed for emigration clearance and other purposes.”

He added that the presence of a dedicated migrant help desk will help guide the passengers in emigration clearance.

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Aviation min grants rights to GMR to operate Hyderabad airport for 30 yrs

The Ministry of Civil Aviation (MoCA) has granted rights to the GMR Group to operate the Hyderabad international airport for 30 more years, according to a statement issued on Wednesday.

Till date, the GMR Group had the rights to operate the Hyderabad airport till March 22, 2038. The airport was inaugurated on March 23, 2008.

The GMR Group's statement said the extension granted by the MoCA is in terms of the concession agreement that was signed between the MoCA and the GMR Hyderabad International Airport Limited (GHIAL) on December 20, 2004.

GHIAL, a step-down subsidiary of GMR Infrastructure Limited (GIL), has received a letter of confirmation from the MoCA extending the term of the concession agreement for operating the Rajiv Gandhi International Airport in Hyderabad for a further period of 30 years - from March 23, 2038 up to March 22, 2068, it said.

"The initial capacity of the airport was 12 million passengers per annum (MPPA), which went up to 21 MPPA in 2019 (pre-Covid)," it said.

The airport, at present, is undergoing major expansion, post which the capacity will get enhanced to 34 MPPA. The airport has 150,000 tons of cargo handling capacity per annum, the statement said.

The airport master plan has the flexibility to increase the ultimate capacity to over 100 MPPA in phases, it said.

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GMR Infra becomes India’s first pure-play airports listed company

GMR Infrastructure Ltd (GIL), which operates Delhi and Hyderabad airports and is constructing several others, on Tuesday became India’s first pure play airports listed company. The infra major has de-merged its other non-airport verticals like power from GMR Infra as GMR Power and Urban Infrastructure Limited (GPUIL). 

“The existing shareholders of GMR Infra will receive one equity share of Rs 5 (face value) eac3h of GMR Power and Urban Infra Limited for holding 10 equity shares of Re 1(face value) share of each GMR Infra Ltd. The demerger happened through a vertical split and resulted in listed companies – GIL and GPUIL and mirror shareholding of the both. All the existing shareholders of GIL will become shareholders of GPUIL in the same proportion. GPUIL shares will start trading independently on the stock exchange in February 2022 after approvals from SEBI/stock exchanges,” GMR Group said in a statement.

“GIL becomes the only pure-play airports platform with strong cash flow generation potential (in India). According to CAPA, GMR Infrastructure is world’s second largest private airport operator after France’s VINCI Airports. It is the only Indian airport developer having strongest international presence,” it added. 

GIL’s airport portfolio has around 18.2 crore per annum passenger capacity (pre-Covid) in operation and under development. The operating airports include: IGIA in Delhi, RGIA in Hyderabad, Mactan Cebu International Airport in Philippines (in partnership with Megawide) and Medan Airport, Indonesia (with Indonesia’s Angkasa Pura II). 

The greenfield projects under development include Mopa in Goa and Heraklion International Airport in Crete, Greece, (in partnership with GEK Terna). It will build Bhogapuram greenfield airport in Andhra Pradesh. It has also signed the concession agreement to commission, operationalise and maintain the civilian enclave at the Bidar Airport in north Karnataka.

GMR Infra spurts on buzz Group will expand Hyderabad airport

GMR Infrastructure surged 10.65% to Rs 43.65 on reports that GMR Group will invest Rs 6,300 crore in Hyderabad's Rajiv Gandhi International Airport to expand the aerodrome's capacity to 34 million passengers per annum by 2024.

The media reported that funds for the expansion have been secured and most part of the finance is through bonds issuance.

Recently, the Airports Economic Regulatory Authority (AERA) allowed GMR Hyderabad International Airport (GHIAL), which manages Rajiv Gandhi International Airport, to gradually increase user development fee (UDF) on embarking domestic as well as international passengers from 1 April 2022.

The AERA allowed GMR Hyderabad International Airport to increase UDF from the existing Rs 281 to Rs 480 and Rs 393 to Rs 700 for domestic and international passengers respectively from 1 April 2022. Similarly, the charges will be enhanced up to Rs 750 for domestic and Rs 1500 for international passengers by 31 December 2025. However, the charges will be reduced to Rs 500 and Rs 1,000 for domestic and international passengers for the last three months of the Control period.

GHIAL is a company promoted as a joint venture comprising the GMR Group (63%) in partnership with Airports Authority of India (AAI) (13%), Government of Telangana (13%) and Malaysia Airports Holdings Berhad (11%).

GHIAL was mandated to design, finance, build and operate Rajiv Gandhi International Airport (RGIA), Hyderabad as a world class Greenfield airport on the Public Private Partnership (PPP) model.

Currently Hyderabad Airport handles over 21 million passengers and around 148,000 tons of cargo annually and serves 17 International destinations through 21 International and 3 Indian passenger carriers and has 8 domestic carriers operating to around 53 domestic destinations. In addition to the above, 5 cargo airlines operate dedicated freighter services from Hyderabad Airport.

On a consolidated basis, GMR Infrastructure reported net loss of Rs 317.91 crore in Q1 June 2021 as against net loss of Rs 833.87 crore in Q1 June 2020. Net sales rose 49.89% to Rs 1508.58 crore in Q1 June 2021 over Q1 June 2020.

GMR Infrastructure is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

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