Jan 05:
Unlike other conglomerates, the GMR group seems to have astutely avoided a debt trap as far as its energy vertical goes. 8By undertaking SDR for two power projects (Chhattisgarh & Rajahmundry), selling transmission assets (Maru & Aravalli) and inducting Tenaga as a strategic partner in GMR Energy with a 30% stake, GMR is now left with those assets which are on the verge of turnaround due to tariff increase and backed by long term PPAs & confirmed linkages (Warora & Kamalanga) or those plants which are debt free (Vemagiri & Kakinada). 8As a result, energy vertical’s debt has come down 8Expect more action on the asset disinvestment front, as GMR begins to consolidate itself as an airport-centric company Click on Reports for more