Infrastructure holding company GMR Infrastructure Ltd on Thursday said GMR led consortium, Delhi International Airport (P) Ltd (DIAL), has signed a land license agreement with Airbus for setting up India’s first full flight simulator at the Aerocity-Terminal District of Indira Gandhi International (IGI) Airport.
“GMR led Delhi Airport signs land license agreement with Airbus India to develop their first full flight simulator,” the company said in a filing to the Bombay Stock Exchange on March 16, 2017.
On the 1.11 acre of land, the France based company will set up India’s first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers, the company said.
Airbus will also establish its India Headquarter within the same development, it added.
The agreement was signed for a period till March 31, 2036 and DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license.
Commenting on the development, a DIAL spokesperson, said, “DIAL has taken an initiative to develop Aerocity into a world class business destination and provide excellent amenities and facilities to various aviation and other related businesses. This initiative is driven by the Hon’ble Prime Minister’s ‘Make in India’ and ‘Skilling India’ vision. The Terminal district of Delhi Aerocity will see development of over two million square feet.. This is the second significant transaction in Delhi Aerocity after recent deal signed with Bharti Realty Holdings Ltd. DIAL is putting together a plan for development of infrastructure for public amenities at Aerocity in an effort to increase the velocity of land monetisation.”
Meanwhile, shares of the company closed at Rs 17.20 apiece, up 4.88 per cent, from previous close on BSE.