GHIAL acquires 70% stake in ESR Logistics park to develop airport land

GMR Hyderabad International Airport (GHIAL), an arm of GMR Airports (GAL), acquired a 70 per cent stake in ESR GMR Logistics Park for a consideration of ₹41 crore. GMR Group now owns 100 per cent of EGLPPL, as GMR Hyderabad Aerotropolis Ltd, a wholly owned subsidiary of GHIAL, already owned the rest 30 per cent in EGLPPL, said reports. GMR Group said it aims to accelerate airport land development in Hyderabad. GHIAL CEO Pradeep Panicker said consolidation will enable the company to fully integrate EGLPPL into their ALD strategy. Aman Kapoor, CEO, ALD, GMR Group, said acquisition will help group build an airport-led industrial and logistics ecosystem.