GMR Airports to Develop 50.5-Acre Cargo City at Delhi Airport.

GMR Airports Ltd, through its subsidiary Delhi International Airport Ltd (DIAL), will develop a new cargo city covering 50.5 acres at the Indira Gandhi International Airport (IGIA). The project, which includes a 10-acre optional land parcel for future development, will significantly expand the airport's cargo and logistics capabilities.

According to a regulatory filing, GMR Airports has received a Letter of Intent to Award the project from DIAL. The company will be responsible for the financing, design, construction, and operation of the facility until 2036, with an option to extend the agreement for up to 30 years.

The project will operate on a revenue-sharing model with DIAL. GMR Airports will provide a minimum monthly guarantee, which is estimated to total ₹415.74 crore for the initial term of the contract. The transaction has been classified as a related-party transaction and was conducted on an arm’s length basis, with all required regulatory approvals in place.