GVK (conglomerate)

GVK is an Indian conglomerate spanning diverse sectors including energy, resources, airports, transportation, hospitality and life sciences. Having already invested over ₹240 billion (US$3.4 billion), GVK has projects in pipeline worth over another ₹360 billion (US$5.0 billion) in India.[3] After acquiring Australian coal mines in Queensland for US$1.26 billion, GVK envisages an investment of US$10 billion in mine, rail and port project.[1]

GVK
Private
Traded as
[1]
IndustryConglomerate
FounderGunupati Venkata Krishna Reddy
Headquarters
Hyderabad
Number of locations
India, Australia, Indonesia
Key people
Gunupati Venkata Krishna Reddy
(Chairman & MD)
G.V. Sanjay Reddy
(Vice Chairman)
ProductsEnergy, Resources, Airports, Transportation, Hospitality, Life sciences
Revenue₹31.363 billion (US$440 million)(2015)[2]
Number of employees
50,000 (2017)
ParentSVR Groups
Websitegvk.com

Businesses

Energy

GVK's energy portfolio comprises CCPP (gas/naphtha-based), thermal (coal-based) and hydro power plants.

Projects under operation
  • 469 MW Gautami CCPP, Andhra Pradesh commenced operations in 2009.[4]
  • 228 MW Jegurupadu CCPP Phase 2 – 228 MW, Andhra Pradesh commenced operations in 2009 [4]
  • 330 MW Srinagar HEP, Uttarakhand commenced operations in 2015 .[5]
  • 540 MW Goindwal Sahib Thermal Power Project, Punjab commenced operations in 2016 [6]

Projects under construction and development
  • 850 MW Ratle Hydro Electric Project, Jammu & Kashmir

Resources

Coal

Australia:

GVK has acquired 79% stake each in Alpha Coal and Alpha West Coal mines and 100% stake in Kevin's Corner mines in Queensland, Australia for US$1.26 billion with total resources of about 8 billion tonne and a capacity of over 80 million tonne per annum. When combined, these projects will create one of the largest coal mining operations in the world. GVK has also acquired 100% stake in a 500 km rail line and a 60 million tonne per annum port as part of the ‘pit-to-port’ logistics solution. The project envisages a total investment of US$10 billion. This acquisition was awarded as “Asia Deal of the Year” and “Asia Outbound Investor of the Year” at the 8th Asia Mining Awards 2012, Singapore. GVK has received all relevant approvals pertaining to mine, rail and port projects from both the State and Federal Govt and is in the final stages of project development. .[7]

Airports

India

GVK's foray into the aviation sector began with the modernization of Chhatrapati Shivaji International Airport (CSIA) in Mumbai. Further, with the acquisition of Kempegowda International Airport (KIA) in Bengaluru GVK has become one of the largest airport operators in the country handling a combined traffic of over 60 mppa at these two airports.[8][9][10]

Indonesia

GVK has collaborated with the Airports Authority of Indonesia, Angkasa Pura Airports (AP1), for operations, management and development of non-aeronautical commercial facilities at Denpasar International Airport, Bali. GVK is also developing an international greenfield airport in Yogyakarta, Central Java.[11][12][13]

Transportation

Roads:

GVK's Jaipur – Kishangarh Expressway, Rajasthan, the first privately operated six-lane road project with 542.4 lane km. GVK's road portfolio includes other projects of over 900 lane km under various stages of construction and development:

Projects under operation
  • Jaipur – Kishangarh Expressway (542.4 lane km), Rajasthan
  • Deoli – Kota Expressway (332.16 lane km), Rajasthan

Projects under construction and development
  • Bagodara – Vasad Expressway (611.4 lane km), Gujarat

Ports
  • GVK has signed an MoU with the Govt of Gujarat to develop a greenfield port at Okhamadi.

Hospitality

GVK has seven TAJGVK properties across Hyderabad, Chandigarh, Chennai and Mumbai having a total key base of 1372. These include Taj Krishna, Taj Deccan, Taj Banjara and Vivanta by Taj in Hyderabad, Taj Chandigarh, Taj Clubhouse in Chennai and Taj Santacruz in Mumbai. It is also coming up with the Ginger brand in Andhra Pradesh to cater to the value segment.

GVK had opened a Niranta Airport Transit Hotel at newly built terminal T2 in Mumbai Airport. The hotel will be managed and operated by International Hotels and Resorts. This will be India's second Airport Transit Hotel after Eaton Smart New Delhi Airport Transit Hotel in Delhi's airport operated by GMR Infra.[14][15][16][17] [18][19]

Life sciences

GVK BIO is a Contract Research Organization (CRO) with 2400 scientists, support and analytical staff. GVK BIO offers support at various phases of research including Analytical Services, Biology, Chemistry, Clinical Research, Clinical Pharmacology, Informatics and Process Research & Contract Manufacturing.

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References
  1. Power & Infrastructure, GVK. "Annual Finance Report 2011-12" (PDF).
  2. "GVK Annual Financial report" (PDF). GVK. 1 January 2015.
  3. Power & Infrastructure, GVK. "ABOUT GVK".
  4. "GVK - Our Business - Enegry - CCPP (Gas & Naptha)". gvk.com. Retrieved 3 April 2017.
  5. "BHEL commissions 4th 82.5 MW at Uttarakhand hydel project - NetIndian". netindian.in. 11 June 2015. Retrieved 3 April 2017.
  6. "Finally, Goindwal Sahib thermal plant to get going". hindustantimes.com. 26 January 2016. Retrieved 3 April 2017.
  7. weekly, Mining. "Queensland approves two new rail corridors". Retrieved 6 June 2012.
  8. BusinessLine, The Hindu. "'There are many challenges, including land acquisition'".
  9. Business Line, The Hindu. "GVK buys 14% stake in Bangalore airport from Siemens".
  10. ITWeb. "Airport scores business continuity first".
  11. "GVK Power bags 2 airport projects in Indonesia". Hindu Business Line. 26 January 2011. Retrieved 11 July 2013.
  12. "GVK Power and Infrastructure ties up with Indonesian Airport Authority". The Economic Times. 8 November 2012. Retrieved 11 July 2013.
  13. "GVK calls tenders for services contracts at Bali airport". The Economic Times. 29 May 2013. Retrieved 11 July 2013.
  14. "GVK-operated Mumbai airport recently opened transit hotel inside new terminal T2". indiatimes.com. Retrieved 3 April 2017.
  15. "Mumbai Airport Hotels – Niranta Transit Hotel & Lounge". nirantahotels.com. Retrieved 3 April 2017.
  16. BusinessLine, The Hindu. "Taj GVK to set up hotel at Mumbai airport".
  17. Transit hotels are popular among passengers around major airports
  18. Sachs, Andrea; Sachs, Andrea (16 June 2016). "What went right (a lot) and wrong (not much) during 20 days of hard-core tourism". Retrieved 3 April 2017 – via washingtonpost.com.
  19. "How ready is India for airport transit hotels?". indiahospitalityreview.com. Retrieved 3 April 2017.
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