Investments Crete’s Kastelli Airport Project Moves to Next Stage by GTP editing team 18 April 2017 written by GTP editing team 18 April 2017 1 comment Share 0FacebookTwitterLinkedinWhatsappEmail 9 Impression of Kastelli airport. An infrastructure consortium made up of GMR Airports Limited (GAL) and Greece’s GEK Terna has placed its bid at 480 million euros for the construction and operation of the new Kastelli airport project in Heraklion, Crete, and is expected to receive parliament approval by year-end. The state will contribute 180 million euros or 46 percent down from the initial 220 million euros set earlier in the tender. Airport use fees have also dropped below 20 euros, while expected time of completion has been set for 60 months. GMR Airports Limited (GAL) is a subsidiary of India’s GMR Infrastructure Limited, and together with GEK Terna, on award will be the airport operator holding a minimum of 10 percent equity stake in the consortium. The project involves the design, construction, financing, operation and maintenance of the airport – expected to handle more than seven million passengers per year – for a concession period of 35 years. GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure. Greek company GEK Terna is active in construction, energy, mining, waste management, and real estate development. The Kastelli airport will replace the current Nikos Kazantzakis airport in Heraklion and is expected to become Greece’s second biggest. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post WTTC: Greek Tourism to Remain Robust to 2027, Driver of Economy next post TIF-Helexpo and Fiera di Roma Enter Strategic Partnership in Exhibition Industry You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 1 comment Aline Dobbie 19 April 2017 - 11:26 Delighted to read of this progress. I constantly write about the beauty of Crete and visit there and would welcome this new airport. Reply Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
