Indian firm eyes PH airport, road, energy projects

An Indian multinational conglomerate has expressed interest in investing in airports, roads, and energy projects in the country.

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President Ferdinand 'Bongbong' Marcos Jr. meets executives of GMR Group in Singapore. (Photo courtesy of Malacañang)

In a meeting with President Marcos in Singapore, GMR Group told the President of their intention, saying they will provide a long-term solution to the Philippines especially in infrastructure and energy.

“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,” Srinivas Bommidala, chairman of GMR Airports, told the Marcos.

The President also expressed hopes that the Indian company would take part in the country’s development of its airports, roads, and energy infrastructure.

“Definitely we need to improve the capacity that serves Manila. Sangley, the one of Ramon Ang. Anything you build it will get full. I don’t worry, all my experience in major infrastructure, you think it's overcapacity, three years later you’ll building some more,” Marcos said.

“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,” he added.

Marcos noted that building major infrastructures is part of the administration’s economic agenda to advance development, hoping GMR can apply all its experiences and expertise in its participation on various major projects in the country.

“We’ve been trying, the reason, we go to this process is that it is a major part of our economic program. Well of course Manila is the gateway, even regional airports we are starting to develop, so that not everyone have to get to Sangley or Bulacan,” Marcos said.

“Improve those airports, improve those facilities, roads, communication. Then they can go directly there," he added.

The Indian firm has spent 11 years in the Philippines, operating the Mactan and Clark airports.

GMR Group, founded in 1978 by Grandhi Mallikarjuna Rao, is an Indian multinational conglomerate headquartered in New Delhi. The group comprises several companies including GMR Infrastructure, GMR Energy, GMR Airports, and GMR Enterprises.

The group is a leading conglomerate in India, which also operates in Indonesia and Turkey.