Hyderabad’s international airport has raised US$350 million in the international bond markets as India aims to boost investment into its aviation infrastructure amid a need to boost capacity.
Sidharath Kapur, the president of GMR Airports, which owns and operates the airport in south India, said it was a refection “of the Indian growth story”.
“[The offer] saw global investment interest from high quality investors in Asia, Europe and USA and was oversubscribed multiple times,” he said.
India has one of the world’s fastest-growing aviation markets. The number of passengers travelling by air within India last year surged by 23 per cent over the previous year to reach close to 100 million.
India requires up to $45 billion of capital to create additional airports capacity by 2030, according to the aviation consultancy firm Capa.
“The airport system is expected to exceed its maximum structural capacity by 2022,” Capa said in a report this month. “India will need to build an additional 500 million to 600 million [passenger] capacity by 2030.” Read More…