1. GMR Infra ties up funds for Cebu airport expansion

GMR Infra ties up funds for Cebu airport expansion

GMR Infrastructure on Monday said it has tied up funds for expansion of the...

By: | Published: December 23, 2014 12:47 AM

GMR Infrastructure on Monday said it has tied up funds for expansion of the Mactan Cebu International Airport, the second busiest airport in the Philippines, where it had taken charge of operations in November. The airport, a 40: 60 joint venture between GMR Infrastructure and the Philippines-based Megawide Construction Corporation, has signed financing documents with banks to fund 70% of the total project cost of 33 billion Philippine pesos (around $750 million).

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