"I am not aware of it, this is the first time I am hearing about it. We are not exploring such options," Sanjay Reddy, Vice Chairman, GVK Group told CNBC-TV18 today.
Reddy further said that at this moment the company was not looking for developing any new airport project in the country and would focus first on reducing its debt. GVK's airport business have debt of around Rs 2000 crore.
Queensland projects to begin by FY14: GVK's Sanjay Reddy
"We have certain amount of debt in our old company which we had taken to buy additional stake. So we are looking for investment from various parties to be able to repay that debt and there is a very good interest in the last 3-4 months," Reddy said.
GVK is also likely to increase stake in the Bangalore airport once its lock-in period gets over. Reddy is also hopeful that airports tariffs will come down going forward.
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