GMR Secures ₹2,600 Crore Loan from Tata Capital for Nagpur Airport Takeover and Expansion

Nagpur: GMR Nagpur International Airport Limited (GNIAL), a wholly owned subsidiary of GMR Airports Limited, is raising ₹2,600 crore from Tata Capital to partly fund the brownfield expansion and operational takeover of Dr. Babasaheb Ambedkar International Airport in Nagpur.

The loan will support the first phase of development under a concession agreement, as GMR prepares to assume control from the current operator, Mihan India Limited (MIL)—a joint venture between the Airports Authority of India (AAI) and Maharashtra Airport Development Company (MADC). Final clearance for the transfer of airport land from AAI to GMR is still pending, with approval from the Union Cabinet awaited.

According to a project note reviewed by The Times of India, the total estimated cost of the airport expansion stands at ₹3,275 crore. The Tata Capital loan will fund a significant portion of this, with the capital earmarked for upgrades across civil, mechanical, and electrical infrastructure. Key improvements will include a new terminal, runway enhancements, cargo handling facilities, and other operational assets.

GMR's development plan envisions boosting the airport’s capacity to handle 30 million passengers annually. In the initial phase, a new terminal capable of accommodating 3 million passengers per year will be constructed, along with a facility to process up to 20,000 metric tonnes of cargo. Additional infrastructure, such as a new air traffic control tower and expanded airside facilities, is also planned.

Although GMR had aimed to take over airport operations by early May, the process has been delayed due to pending land transfer approvals. While the core airport land belongs to AAI, peripheral areas—such as those near Shivangaon and surrounding villages—are managed by MADC.

GMR Nagpur was incorporated nearly six years ago to eventually oversee the airport’s operations. The company has now completed all necessary formalities from its side, according to sources familiar with the matter. Legal advisory for the loan transaction was provided by Cyril Amarchand Mangaldas (CAM).

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