Grandhi Mallikarjuna Rao
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Grandhi Mallikarjuna Rao | |
|---|---|
| Born | July 14, 1950 |
| Occupation | Businessman |
| Website | G.M. Rao |
Grandhi Mallikarjuna Rao is the founder Chairman of GMR group, a leading infrastructure developer in India [1]. He was placed at rank 349 in the world's richest list by forbes and his wealth was valued $2.6 billion. He stands at 18th position in India Rich List.
Rao was born in Rajam, Srikakulam district in Andhra pradesh.
Career and history
Rao started his business with jute mills and eventually founded the GMR group. He later expanded the GMR group into energy and infrastructure sectors. In 2006, the GMR group won a bid to privatize India's second busiest airport, Indira Gandhi International Airport[2]. Rao is believed to have spent $8 million on his bid and struck a contract with Fraport AG to support his bid technically and win the contract. GMR group is also doing a $500 million Hyderabad airport project, which is expected to be completed by 2008.[3]
Notes and References
- ^ "GMR holding board". GMR group. Retrieved 2008-04-24.
- ^ Indira Gandhi International Airport
- ^ Forbes - GMR wins bid