GMR Airports Ltd., the main competitor to Adani Group’s airports operator, is planning to spend as much as 194 billion rupees ($2 billion) to expand its New Delhi and Hyderabad facilities, a sign of bullish expectations for India’s aviation market over the coming decade.
The investments, spread over the next five to seven years, are aimed at boosting capacity and modernizing infrastructure to keep pace with rapidly rising passenger volumes, Saurabh Chawla, company’s executive director for finance and strategy said in an interview.
