India’s GMR Group eyes investment in PH infra, energy projects – Palace

Metro Manila (CNN Philippines, September 15) — Indian infrastructure development GMR Group, which is among the potential bidders in the ₱170.6-billion rehabilitation of the Ninoy Aquino International Airport, showed interest in investing in the country’s transportation and energy sectors, according to Malacañang.

In a statement on Friday, the Palace said that GMR Group’s top officials had a meeting with President Ferdinand Marcos Jr. on the sidelines of the 2023 Asian Summit in Singapore, where they expressed the desire to expand their operations in the Philippines with possible projects in airports, roads, and power.

Srinivas Bommidala, the chairman of GMR Airports, shared that the group built six airports in India, showing their expertise in this field.

Marcos welcomed GMR Group’s plan, saying this would help the local tourism sector.

“We want it to increase as much as possible," Marcos told the group. "I’m glad that you are looking at the Philippines

The president said that while the government targets to upgrade the country’s main air hub, as well as build airports in nearby provinces, it was also developing regional airports.

GMR Group already has a local partner in the Philippines — Cavitex Holdings — for the construction of the Sangley airport.

According to Leonides Virata, chief executive officer of Cavitex Holdings, construction works may begin next year once they secure the green light from the government.