LoIs issued to L&T and Megawide Construction for Hyderabad airport expansion, Reliance emerges L1 bidder for Rajkot greenfield airport project

GMR Hyderabad International Airport Limited has issued letters of intent (LoIs) to Larsen & Toubro (L&T) and Megawide Construction Corporation for contracts worth Rs 30.8 and Rs 9.8 billion, respectively, for developing the Hyderabad airport expansion project. The project will be developed in phases at an investment of Rs 40 billion. In another development, Reliance Infrastructure Limited has emerged as the lowest bidder for engineering, procurement and construction works for the Rajkot greenfield airport project. The company has quoted a value of Rs 6.5 billion for the works and the entire project will be developed at an investment of Rs 26.54 billion.