GMR Airports has received a Letter of Award (LOA) from Delhi International Airport (DIAL), intimating that the Company has emerged as the Selected Bidder to upgrade, modernize, finance, operate, manage and maintain the Cargo Terminal 1 at the Indira Gandhi International Airport, New Delhi (Delhi Cargo Terminal 1 Concession).

The project is based on the revenue share payment model to DIAL for an initial period of upto year 2036 with an estimated revenue share of Rs. 340 crore in the first full year of operations.