Rs 6,300 crore for expansion of GMR Hyderabad International Airport
Hyderabad: GMR Hyderabad International Airport will invest Rs 6,300 crore to increase the capacity of the airport to 34 million passengers per year. This will make Hyderabad airport larger than Orly Paris airport, said Antoine Crombez, deputy managing director of GMR Airports Ltd, during a speech at the Indo-French Investment Conclave 2021 here on Friday.
Last year, GMR Infrastructure Limited (GIL) announced a strategic partnership with Groupe ADP for its airport business. The acquisition by Groupe ADP of 49% of the capital of GMR Airports constituted a solid industrial partnership.
Meanwhile, French fruit drink manufacturing company Georges Monin has doubled its investment in its next manufacturing plant in Telangana to Rs 200 crore.
The conclave organized by the Indo-French Chamber of Commerce and Industry (IFCCI) to strengthen French investment opportunities in Telangana, saw the participation of more than 100 CEOs, CXOs and French diplomats.
The event showcased and promoted existing French investments in the state within its extensive network and position Telangana as one of the most sought-after investment destinations due to its strategic location, conducive business environment, its cutting-edge infrastructure, its proactive governance, and a favorable ecosystem.
The delegation also visited French companies that operate successfully in the state such as Safran Aircraft Engines, Mane India and Sanofi Shantha Biotech.
The conclave included several round tables focused on key industries and the official session brought together Emmanuel Lenain, French Ambassador to India, KT Rama Rao, Minister of Information Technology, Telangana, Jayesh Ranjan, Principal Secretary, IT Department, Telangana and Sumeet Anand, President of IFCCI.
“France and French companies are fully committed to increasing their presence in Telangana and seizing the many opportunities of this prosperous and innovative state. Many French groups have already invested in Telangana, particularly in biotechnology, IT and aeronautics. These Indo-French commercial efforts in key sectors of Telangana also help to strengthen the strategic partnership between our two countries ”, declared the French Ambassador.
He said he was proud that French companies demonstrated exceptional solidarity with Telangana during the second wave of Covid-19 by contributing to a French-made world-class oxygen generation plant at the Institute of Medical Sciences of Telangana.
“Telangana is one of the fastest growing states in the country. Since the formation of the state, the Telangana government has introduced innovative policies to attract global business and investment, ”said KT Rama Rao.
Highlighting the TSiPASS policy, he said the Telangana government had given its approval for various investment proposals within 15 days. He added that thanks to this policy, the Telangana government has attracted millions of investments to the state and created thousands of job opportunities in the region.
Rama Rao also mentioned that Telangana is the preferred destination for IT, aerospace, life science and pharmaceutical companies. He noted that Telangana is home to many French companies.
He claimed that many other French companies were showing an interest in investing in Telangana.
“If a company wants to invest in India and can mention what other states are offering, we will either respond to their offer or beat their offer,” he said.
Sumeet Anand, President of IFCCI, said during the conclave that Telangana enjoys a very healthy investment climate with strong leadership, investor-friendly reforms, strong cluster skills in key sectors, innovation and digital acceleration as well as increased urbanization and consumption levels.
Payal S. Kanwar, Managing Director of IFCCI, said Telangana is a key state for French investments in India and can already see the solid and successful establishment of companies like Safran, Sanofi, Mane, Monin, Capgemini , among others.