GMR wins North Goa’s Greenfield Mopa Airport

The Dollar Business Bureau 

GMR Airports Ltd, an arm of GMR Infrastructure, has won a bid to develop North Goa’s Rs.3,000-crore worth Mopa Greenfield Airport project under BOT (Build Operate Transfer) basis. The Greenfield project shall be completed in a concession period of 40 years with an extension period of 20 years through another bid process. 

In this international competitive bid process, Airports Authority of India and Essel InfraIncheon emerged as the second and third highest bidders respectively next to GMR. The letter of award (LoA) will be issued in a couple of months. The concession agreement will be signed within one-and -half months from the date of the issue of LoA. 

The regulatory regime for the concession will be hybrid till with 30% cross subsidy. The concession offers 232 acres of land for commercial city side development for a period of 60 years, the company said in a statement on Saturday. 

GMR Group Airports Chairman Srinivas Bommidala said that the company would take this opportunity to reiterate their commitment to develop the infrastructure of the country. He assured the Central government as well as Goa government to deliver the airport within the timeline of the project. 

GMR Group owns and operates New Delhi airport and Hyderabad airport. It had built New Delhi airport’s Terminal 3 in a short span of 37 months while Istanbul’s Sabiha Gokcen airport had been constructed in a record period of 18 months. In association with Megawide Construction Corporation, the company is developing Mactan Cebu International Airport in Philippines. It is also developing two special investment regions at Krishnagiri and Kakinada.