Rs 6,300 crore for Hyderabad Airport expansion

09-10-2021 Sat 06:30 IST | IANS | Local

Hyderabad, Oct 9 : GMR Hyderabad International Airport will be investing Rs 6,300 crore to increase the airport's capacity to 34 million passengers per annum.

This will make Hyderabad Airport larger than Orly Airport Paris, said Antoine Crombez, Deputy CEO, GMR Airports Ltd while addressing Indo-French Investment Conclave 2021 here on Friday.

Last year, GMR Infrastructure Limited (GIL) had announced a strategic partnership with Groupe ADP for its airports business. Groupe ADP's acquisition of a 49 per cent stake in GMR Airports set a robust industrial partnership.

Meanwhile, French fruit beverages manufacturing company Georges Monin has doubled investment in its upcoming manufacturing plant in Telangana to Rs 200 crore.

The conclave organised by the Indo-French Chamber of Commerce & Industry (IFCCI) to strengthen French investment opportunities in Telangana, saw participation by over 100 CEOs, CXOs and diplomats of France.

The event showcased and promoted existing French investments in the state within its large network and position Telangana as one of the most sought-after investment destinations due to its strategic location, conducive business environment, state-of-the-art infrastructure, proactive governance, and favourable ecosystem.

The delegation also visited French companies that are successfully operating in the state such as Safran Aircraft Engines, Mane India and Sanofi Shantha Biotech.

The conclave included several panel discussions focusing on key industries and the official session was attended by Emmanuel Lenain, Ambassador of France to India, KT Rama Rao, minister for information technology, Telangana, Jayesh Ranjan, Principal Secretary, IT department, Telangana, and Sumeet Anand, IFCCI President.

"France and French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this thriving, innovation-oriented state. Many French groups have already invested in Telangana, particularly in biotech, IT and aeronautics. These Indo-French business endeavours in key sectors in Telangana also help to strengthen the strategic partnership between our two countries," said the French ambassador.

He said he was proud that that French companies demonstrated exceptional solidarity with Telangana during the second wave of Covid-19 by contributing to a French-made world-class oxygen generator plant to the Telangana Institute of Medical Sciences.

"Telangana is one of the fastest-growing states in the country. Since the formation of the state, the Telangana government has been introducing innovative policies to attract global firms and investments," said K.T. Rama Rao.

Highlighting the TSiPASS policy, he stated that the Telangana government has been giving approvals for various investment proposals within 15 days. He added that through this policy, the Telangana government has attracted crores of investment to the state and has created lakhs of employment opportunities in the region.

Rama Rao also mentioned that Telangana has been the favorite destination for IT, Aerospace, Life Sciences, and Pharma companies. He noted that Telangana is home to many French companies.

He claimed that many more companies from France are showing interest in investing in Telangana.

"If any company wants to invest in India and can mention what other states are offering, We will meet their offer or beat their offer," he said.

Sumeet Anand, President, IFCCI told the conclave that Telangana has a very healthy investment climate with strong leadership, investor friendly reforms, strong cluster competency in key sectors, innovation and digital acceleration along with increased urbanisation and consumption levels.

Payal S. Kanwar, Director General, IFCCI said that Telangana is a key state for French investment in India and can already see the strong and successful establishment of companies like Safran, Sanofi, Mane, Monin, Capgemini, among many others.


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