The GMR Group would invest Rs 5,000 crore on the aerodrome in the first phase of its development of an international airport at Bhogapuram, close to Visakhapatnam. The first phase of the airport will be created to service six million people annually, according to GM Rao, chairman of the GMR Group, who was speaking during the opening session of the Global Investors Conference 2023 taking place in Visakhapatnam. “We will be developing Bhogapuram Airport with the first phase serving six million passengers and an ultimate capacity of 40 million passenger (per annum). The first phase investment will be to the tune of Rs 5,000 crore,” Rao said.

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