NATIONAL
Advocates Philippines
India's GMR Group Eyes Key Investments In Philippines Infrastructure
Photo credit: PCO
India's GMR Group has expressed a keen interest in making significant investments in the Philippines, with a specific focus on vital sectors such as airports, roads, and energy projects. This development aligns with the ambitious infrastructure development agenda known as the "Build Better More" program, championed by the Marcos administration.
GMR Group's top executives recently had the opportunity to meet with President Ferdinand Marcos Jr. during a courtesy call at the Marriot Hotel in Singapore, held alongside the 2023 Asian Summit. During this meeting, GMR officials conveyed their commitment to providing sustainable, long-term solutions to the Philippines, particularly in the domains of infrastructure and energy.
Srinivas Bommidala, Chairman of GMR Airports, played a pivotal role in the discussions. He emphasized his responsibility for overseeing the group's international airports and energy initiatives. Meanwhile, Kiran Kumar Grandhi, Chairman of the GMR Group, took charge of the group's strategy and finance aspects.
During their interaction with the President, Bommidala provided insights into the rich history and achievements of the GMR Group, dating back to its establishment in 1978 by Mr. GM Rao. Notably, the group expanded into highways in 1994 and made significant contributions to India's airport development when privatization occurred in 1999, constructing six airports in India.
President Marcos expressed his deep admiration for GMR's accomplishments, envisioning the Indian firm's pivotal role in the Philippines' pursuit of enhanced airports, road networks, and energy infrastructure.
He emphasized the urgent need to augment capacity to serve Manila, singling out Sangley, an infrastructure project led by Ramon Ang. Marcos confidently asserted that, in the realm of major infrastructure, overcapacity concerns often transform into a pressing need for expansion within just a few years. He stressed the importance of bolstering travel, tourism, and business travel in the country.
President Marcos underlined that the administration's steadfast commitment to infrastructure development is integral to its economic agenda for advancing the nation.
He expressed hope that GMR Group could leverage its extensive experiences and expertise to contribute significantly to various major projects in the Philippines. The focus extends beyond Manila, with regional airports also on the development radar, aiming to distribute traffic away from Sangley or Bulacan by improving facilities, roads, and communication networks.
Regarding the Sangley airport project, Leonides Virata, the CEO of Cavitex Holdings and GMR's local partner, emphasized Sangley's potential to alleviate airport congestion issues in the Philippines. Virata disclosed plans to commence Sangley's construction next year, pending government clearances, with the consortium eagerly awaiting the green light to begin groundwork. The ambitious goal is to complete the runway within the next five years.
Beyond Sangley, GMR Group has positioned itself as one of the five potential bidders who secured bid documents for the P170.6-billion NAIA Public-Private Partnership (PPP) project as of September 13, underscoring their dedication to contributing to the country's infrastructure development.
With an impressive 11-year presence in the Philippines, operating the Mactan and Clark airports, GMR Group continues to expand its footprint. Founded in 1978 by Grandhi Mallikarjuna Rao, the group stands as a prominent Indian multinational conglomerate headquartered in New Delhi. Its diverse portfolio includes GMR Infrastructure, GMR Energy, GMR Airports, and GMR Enterprises, and its operations span across India, Indonesia, and Turkey.
Notable attendees during this significant courtesy call included GMR Group Chairman Kiran Kumar Grandhi, Financial Advisor to the Sangley Consortium for international investment in the Philippines Liu Chee Ming, Speaker Martin Romualdez, and Secretary Frederick Go.
GMR Group's top executives recently had the opportunity to meet with President Ferdinand Marcos Jr. during a courtesy call at the Marriot Hotel in Singapore, held alongside the 2023 Asian Summit. During this meeting, GMR officials conveyed their commitment to providing sustainable, long-term solutions to the Philippines, particularly in the domains of infrastructure and energy.
Srinivas Bommidala, Chairman of GMR Airports, played a pivotal role in the discussions. He emphasized his responsibility for overseeing the group's international airports and energy initiatives. Meanwhile, Kiran Kumar Grandhi, Chairman of the GMR Group, took charge of the group's strategy and finance aspects.
During their interaction with the President, Bommidala provided insights into the rich history and achievements of the GMR Group, dating back to its establishment in 1978 by Mr. GM Rao. Notably, the group expanded into highways in 1994 and made significant contributions to India's airport development when privatization occurred in 1999, constructing six airports in India.
President Marcos expressed his deep admiration for GMR's accomplishments, envisioning the Indian firm's pivotal role in the Philippines' pursuit of enhanced airports, road networks, and energy infrastructure.
He emphasized the urgent need to augment capacity to serve Manila, singling out Sangley, an infrastructure project led by Ramon Ang. Marcos confidently asserted that, in the realm of major infrastructure, overcapacity concerns often transform into a pressing need for expansion within just a few years. He stressed the importance of bolstering travel, tourism, and business travel in the country.
President Marcos underlined that the administration's steadfast commitment to infrastructure development is integral to its economic agenda for advancing the nation.
He expressed hope that GMR Group could leverage its extensive experiences and expertise to contribute significantly to various major projects in the Philippines. The focus extends beyond Manila, with regional airports also on the development radar, aiming to distribute traffic away from Sangley or Bulacan by improving facilities, roads, and communication networks.
Regarding the Sangley airport project, Leonides Virata, the CEO of Cavitex Holdings and GMR's local partner, emphasized Sangley's potential to alleviate airport congestion issues in the Philippines. Virata disclosed plans to commence Sangley's construction next year, pending government clearances, with the consortium eagerly awaiting the green light to begin groundwork. The ambitious goal is to complete the runway within the next five years.
Beyond Sangley, GMR Group has positioned itself as one of the five potential bidders who secured bid documents for the P170.6-billion NAIA Public-Private Partnership (PPP) project as of September 13, underscoring their dedication to contributing to the country's infrastructure development.
With an impressive 11-year presence in the Philippines, operating the Mactan and Clark airports, GMR Group continues to expand its footprint. Founded in 1978 by Grandhi Mallikarjuna Rao, the group stands as a prominent Indian multinational conglomerate headquartered in New Delhi. Its diverse portfolio includes GMR Infrastructure, GMR Energy, GMR Airports, and GMR Enterprises, and its operations span across India, Indonesia, and Turkey.
Notable attendees during this significant courtesy call included GMR Group Chairman Kiran Kumar Grandhi, Financial Advisor to the Sangley Consortium for international investment in the Philippines Liu Chee Ming, Speaker Martin Romualdez, and Secretary Frederick Go.
Sep 15, 2023
