Economy & Market

GMR Airports to develop Goa?s greenfield Mopa airport

Published

9 years ago

October 31, 2016

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GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa. The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process. The airport will be built under the BOT (Build-Operate-Transfer) model.
GMR won the bid through a closely contested competitive bid process, with Airports Authority of India emerging as the second highest bidder, followed by the consortium of Essel Infra-Incheon emerging third.
The letter of award is expected to be issued within 60 days, while signing of concession agreement will be done within 45 days from the date of issuance of award letter. Commenting on the development, Srinivas Bommidala, Chairman Airports, GMR Group, said,?GMR Airports Limited is delighted to have won the bid for the development and operation of Mopa Greenfield airport in Goa.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/