GVK Power & Infrastructure Limited (GVKPIL) is a holding company of diversified infrastructure assets. The company has interest in various Power Generation assets (viz., Gas, Hydel and Thermal), Roads, Airports, SEZ, Coal Mines, Oil and Gas, etc. It is engaged mainly into the business of providing operation and maintenance services, manpower & consultancy services and incidental services to owners of power plants, airports and infrastructure companies.
The Company was incorporated in 2nd December of the year 1994 as a private company with unlimited liability under the name of Jegurupadu Operating & Maintenance Company. GVK is amongst India`s largest infrastructure developers with experience and expertise spanning areas including hospitality, manufacturing, power, roads, airports and urban infrastructure. Until date GVK has invested over Rs. 5,000 crore in its various business and has on hand projects in the pipeline of over Rs. 12,000 crore. GVK is developing power projects that are based on coal, gas and hydel resources. The projects are being developed across several States in the country including Andhra Pradesh, Punjab and Uttarakhand.
The Company was converted to a company with limited liability and consequently the name was changed to Jegurupadu Operating & Maintenance Company Private Limited in 20th April of the year 2005. Subsequently, it was converted from a private limited company to a public limited company during 19th May of the year 2005 and renamed as Jegurupadu Operating & Maintenance Company Limited. Thereafter, the name of the company was changed to GVK Power & Infrastructure Limited as at 13th July of the year 2005. In October of the year 2005, GVKPIL acquired GVKPPL and Transoceanic Projects Limited`s equity stake in GPL. Accordingly, 51% of the equity shares in GPL now held by GVKPIL continue to remain pledged with PFC. In January 2006, the consortium led by GVK Group and comprising Airports Company South Africa and Bidvest was awarded the mandate to modernize India`s busiest airport, the Chhatrapati Shivaji International Airport (CSIA) at Mumbai.
The Company has initialed the draft Power Purchase Agreement with Punjab State Electricity Board ("PSEB") in December 2006. GVK consolidates its Power, Airports And Road Projects Under GVK Power & Infrastructure Limited in January 2007. During July of the year 2007, GVK signed MoU with Tamil Nadu Industrial Development Corporation (TIDCO) to set up multi-product SEZ in Perambalur. As at August of the year 2007, Alakananda Hydro Power Company Ltd, a GVK group company has achieved financial closure for its 330 MW Shrinagar Hydro Electric Project, being set up in Uttarakhand. During February 2008, the Chhatrapati Shivaji International Airport (CSIA), Mumbai International Airport Pvt Ltd (MIAL) today signed an agreement with SITA, the world`s leading provider of IT applications to airports. The GVK-BHP Billiton consortium has emerged as provisional winners of seven deepwater exploration blocks off the west coast of India during June of the year 2008.
GVKPIL has initiated power projects that will cross over 2000 MW capacity once operational. While Jegurupadu Combined Cycle Power Plant is operational, several ambitious power projects are under development.
In 2009, Company acquired land for the SEZ in Perambalur, Tamil Nadu. Development of a 540 MW coal based thermal power plant in the State of Punjab at Goindwal Sahib began its operations. Jegurupadu Phase I plant resumed operations. Jegurupadu Phase II started its commercial operations from April 14, 2009.
During January, 2010 Company acquired 29% equity stake in Bangalore International Airport Limited (BIAL) through another wholly owned subsidiary. Construction of 330MW Shrinagar Hydro Electric Project, construction of 2 x 270MW Coal based power plant situated at Goindwal Sahib, in the State of Punjab was completed in 2016. Partial Commercial Operations for the 83.04 km Deoli-Kota Road Project, in the State of Rajasthan, commenced from August, 2015 and full commercial operations started from March 2016. `Export Heavy & Bonded cargo Terminal` spread over 7500 sqm with additional 3,00,000 mt capacity per annum was operational in January 2017.
The Company had disposed off its entire equity stake in two of its whole owned subsidiaries i.e. GVK Oil & Gas Limited and Goriganga Hydro Power Private Limited. Further, GVK Energy Ventures Private Limited also ceased to be a step-down subsidiary of Company. Accordingly, each of these companies were no longer the subsidiaries of Company from January 1, 2018. Navi Mumbai International Airport Private Limited (NMIAL) was identified as a Special Purpose Vehicle, which is a step down subsidiary of Company in 2018. The Company launched 8 Airlines, namely Air Asia Indonesia - Denpasar, Air Canada - Vancouver, KLM - Amsterdam, Thai Lion Air - Bangkok, Thai Smile - Bangkok, Rwand Air - Kigali, Air Deccan - Jalgaon & Nashik, TruJet which were operational during 2018.
GVK Airports International PTE Ltd, Singapore & Sutara Roads & Infra Limited which were step-down subsidiaries of the Company became the direct subsidiaries of the Company during 2020-21. The Company launched 4 Airlines, Air Tanzania - Dar Es Salaam, Virgin Atlantic - London Heathrow, Delta Airlines - JFK, Star Air - Belgaum, which became operational in 2020-21.
During 2021-21, consequent to allotment of 32.50 Crore equity shares of Rs. 10 each to GVK Jaipur Expressway Private Limited, M/s Sutara Roads & Infra Limited became a direct subsidiary of GVK Jaipur Expressway Private Limited with effect from 2nd March, 2022. The Board of Directors have approved a Scheme of Amalgamation of GVK Airport Services Private Limited (Transferor Company -1), GVK Power (Khadur Sahib) Private Limited (Transferor Company -2), GVK Shivpuri Dewas Expressway Private Limited (Transferor Company -3), Sutara Roads & Infra Limited (Transferor Company -4) with GVK Power & Infrastructure Limited (Transferee Company) and their respective shareholders and creditors with the Appointed date as April 01, 2021.