GMR Group to develop 500-acre aviation, aerospace hub in Andhra Pradesh
Executive Brief • Key Highlights
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- ✓GMR Group is developing a 500-acre aviation and aerospace ecosystem in Andhra Pradesh, Chairman G M Rao said on Thursday.
- ✓He noted that airports now act as new engines of economic growth.
- ✓The project aims to boost local development, with Rao calling Visakhapatnam the future Bombay of the East.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Standard
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
GMR Group is developing an aviation city and a 500-acre aviation and aerospace ecosystem in Andhra Pradesh, with Chairman G M Rao describing airports as new engines of economic growth
GMR Group is developing a 500-acre aviation and aerospace ecosystem in Andhra Pradesh, its Chairman G M Rao said on Thursday.
"Besides the airport, we are developing an aviation and aerospace ecosystem in 500 acres in Andhra Pradesh," he said.
Rao noted that in the olden days, economics grew around the port, then around the railway stations, then around the city centers.
"Today, the economy grows around the airport. The airport is a new economic engine," he said, adding that Visakhapatnam will be the 'Bombay of the East'.
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