GMR Airports Partners for New Heraklion Airport Project at Crete

GMR Airports Limited, a subsidiary of GMR Infrastructure Limited, and its Greek partner TERNA Group on 22nd February 2019 signed the Concession Agreement for design and construction of a new international airport at Heraklion in Crete, Greece. The project has been provided the concession period of 35 years, along with a construction period of 5 years for the phase-1 of the project. According to a press release, “Crete is the largest and most visited island in Greece and Heraklion airport is the second largest in the country with registered traffic growth of 10% annually over the past three years. But it is facing a severe capacity constraint and would be replaced by the new airport.”

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