NEW DELHI, Sept 12: GMR Airports on Friday said it has set up a special purpose vehicle to implement the cargo city project at Indira Gandhi International Airport (IGIA) in the national capital.
According to a regulatory filing, ‘GMR Cargo and Logistics Ltd’ was incorporated on September 11 for undertaking the project as well as other cargo and logistics-related opportunities.
The project was awarded by Delhi International Airport Ltd (DIAL), a subsidiary of GMR Airports, which operates IGIA.
“The Special Purpose Vehicle (SPV) entity has been incorporated as a wholly owned subsidiary of the company with an initial paid up share capital of Rs 10,00,00,000… divided into 1,00,00,000… equity shares of Rs 10 each,” the filing said. (PTI)
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