- Agreement signed with Government of Goa
- Airport to be built through DBFOT model for concession period of 40 years, extendable by 20 years
- Financial closure expected by early FY 17-18
- Airport to be built in 3 years from date of financial closure
- Airport to have Hybrid Tillmodel with 30% cross subsidy
- Winning of the project reinforces GMR’s position as a globally credible and financially strong airport developer
GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, today signed the Concession Agreement with Government of Goa for the development and operation of north Goa’s Greenfield International Airport at Mopa.
The agreement is signed by Mr. RV Sheshan, CEO, GMR Goa International Airport Limited (GGIAL) and Mr RK Srivastava, Chief Secretary, Government of Goain the presence of Mr LaxmikantYashwantParsekar, Hon’ble Chief Minister of Goa, Mr SrinivasBommidala, Chairman-Airports, GMR Group and other dignitaries.
As per the concession agreement, GMR will design, build, finance and operate the international airportfor 40 years with extension option for another 20 years. The construction period for the first phase of the project is three years from the date of financial closure and is expected to be operational by midof 2020.
Mr. SrinivasBommidala, Chairman-Airports, GMR Group,
said, “We are excited about the project and the opportunity to partner with the Government of Goa. GMR Group has already delivered landmark airport assets for the Country. Delhi International Airport which is the ‘Gateway of India’ today ranked as the Number One Airport in the World in its category. This has brought tremendous pride to the Country and all Indians. Worldwide airports have been the economic engine of the Country/Region, and Delhi Airport has tremendously boosted not only the India’s economy but also the Delhi State economy. GMR Group very humbly takes pride in being the custodians of these national assets thus contributing towards our Hon’ble Prime Minister ShriNarendraModi’s vision of developing a progressive India.
Goa is the marquee beach tourist destination of India. Given our vast experience in the airport space, we are confident that we will deliver an airport which not only reflects the rich cultural heritage & ethos of Goa but also augments Goa’s standing as the leading tourist destination of choice in Asia while boosting jobs for the local community and bringing economic benefits to the state of Goa”.
In August, 2016, GMR Groupwon the project through international competitive bidding;with Airports Authority of India emerging as the second highest bidder followed by the Essel Infra-Incheon consortium. The project will operate on hybrid till model with 30% cross subsidy. The concession offers 232 acres of land for commercial city side development for a period of 60 years
GMR Group owns and operates India’s busiest Delhi International Airport, ranked as World’s No.1 airport for two consecutive years and Hyderabad International airport, consistently ranked among World’s top three airports in its category respectively. The Group had constructed Delhi airport’s Terminal 3 in a record time of 37 months and Istanbul’s SabihaGokcen airport in 18 months. GMR Infrastructure, in partnership with Megawide Construction Corporation, is also developing Mactan Cebu International Airport (MCIA) in Philippines.In the last week of October, 2016, GMR Airports Limited (GAL)has submitted the bid along with its partner GEK Terna Group of Greece for the Development, Operations and Management of New International Airport of Heraklion at Crete Island, Greece
GMR Airports Ltd (GAL) a subsidiary of GMR Infrastructure Ltd, is one of the largest airport developers in the world; handling more than 70 million passengers per annum both in India & Overseas. It has also bagged the rights to develop and operate Goa’s Greenfield Mopa Airport.
With a 64% stake, GMR’s Delhi International Airport (Pvt) Limited (DIAL)
manages and operates the Indira Gandhi International Airport at New Delhi currently handling around 46 million passengers per annum. With a 63% stake, GMR Hyderabad International Airport Limited
manages and operates the Rajiv Gandhi International Airport at Hyderabad handling 40 million passengers per annum. With a 40% stake, the GMR Megawide Cebu Airport Corp (GMCAC), manages and operates theMactan – Cebu International Airport at Cebu, Philippines currently catering to 8 million passengers per annum.
Besides, developing and operating airports, GAL also has capabilities in various airport related businesses such as flight training, retail, IT and other non-Aero activities.
About GMR Infrastructure Limited (GIL)
GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. The group has fifteen power generation projects of which ten are operational and five are under development and construction stages. Besides, it has eight operating road assets and a double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor is under development.
GMR Group developed and operates India’s busiest and currently World’s No1 Indira Gandhi International Airport in New Delhi and Greenfield Rajiv Gandhi international airport at Hyderabad. It has also bagged right to develop and operate of Goa’s Greenfield Mopa airport. GMR Infrastructure in partnership with Megawide Construction Corporation is developing Mactan Cebu International Airport (MCIA) in Philippines. The Group is also developing two Special Investment Regions at Krishnagiri and Kakinada and India’s largest Smart Airport City near Hyderabad International Airport.
GMR Group, through its Corporate Social Responsibility arm, GMR Varalakshmi Foundation, carries out community-based development initiatives at 22 different locations in the areas of education; health, hygiene and sanitation; empowerment and livelihoods; and community development.
For further information about GMR Group, visit http://www.gmrgroup.in/index.html
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