GVK Power & Infrastructure announced that it, along with its subsidiaries, GVK Airport Developers (GVKADL) and GVK Airport Holdings (GVKAHL), have agreed to cooperate with Adani Airport Holdings, the flagship holding company of Adani Group, for its airports business subsidiary of Adani Enterprises.
Commenting on the development, GVK Reddy, founder and chairman of GVK, said, “The aviation industry has been severely impacted by COVID-19, setting it back by many years and has impacted the financials of Mumbai International Airport Limited. It was therefore important, that we bring in a financially strong investor in the shortest possible time to improve the financial position of MIAL, as well as to help achieve Financial Closure of the Navi Mumbai International Airport project, which is a project of national importance. It is under these circumstances that we agreed to cooperate with Adani so as to achieve these tw
