An Indian business group has expressed interest in investing in the country’s airport, road, and energy sectors as the Marcos administration continues to strengthen its “Build Better More” program.
India’s GMR Group top executives met President Ferdinand Marcos Jr. in a courtesy call at the Marriot Hotel in Singapore, on the sidelines of the 10th Asia Summit in Singapore.
President Marcos said he is impressed with the GMR’s credentials, citing that the Indian firm would be a huge asset in the country’s development of its airports, roads, and energy infrastructures.
“Definitely we need to improve the capacity that serves Manila.
Sangley, the one of Ramon Ang (being built in Bulacan). Anything you build it will get full. I don’t worry, all my experience in major infrastructure, you think its overcapacity, three years later you’ll building some more,” the Chief Executive said on the country’s aviation sector.
“And we want that especially when it comes to travel, tourism, business travel, etc. We want it to increase as much as possible. I’m glad that you are looking at the Philippines,” the President added.
GMR Airport head Srinivas Bommidala told the President he is in charge of the group’s international airports and energy, while his brother-in-law, Kiran Kumar Grandhi, is the chairman of the group and is also in charge of strategy and finance.
“The group started in 1978 by Mr. GM Rao, my father-in-law, his father. And they have commendable businesses. In 1994, we went into highways. In 1999, when India privatized [the] airports, we build airport, six airports in India,” Bommidala told the President.
The group is a leading conglomerate in India, which also operates in Indonesia and Turkey.
Moreover, Cavitex Holdings CEO Leonides Virata, GMR’s local partner, and Sangley Consortium lead, said the Indian firm views Sangley’s potential in resolving airport congestion issues in the Philippines.
Virata revealed that the construction of Sangley will begin next year and the consortium is just awaiting government clearances to start its groundworks.
Other than Sangley Airport, GMR is also one of the five potential bidders for the P170.6-billion NAIA Public-Private Partnership (PPP) project.
GMR also spent 11 years in the country operating at the Mactan and Clark airports.