The National Investment and Infrastructure Fund (NIIF) has announced an investment of Rs 6.75 billion in GMR Visakhapatnam International Airport Limited, an SPV to develop and operate the Bhogapuram International Airport in Andhra Pradesh. This current investment marks NIIF’s second foray into airport investments. In the first phase, the airport will have the capacity to handle up to 6 million passengers annually, increasing to around 40 million passengers per year in the future.
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