- Emerges as the highest bidder in a closely contested bid with 5 bidders having prequalified viz., GMR Airports, Airports Authority of India, Essel-Incheon, GVK and Hiranandani-Vinci
- Final bids were submitted by GMR Airports, AAI and Essel-Incheon consortium
- The airport is to be built through BOT model for a period of 40 years, extendable by 20 years
- Reinforces GMR’s position as a globally credible and financially strong airport developer
- Airport to have Hybrid Till with 30% cross subsidy
GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa. The concession period for the Greenfield project will be 40 years with a possible extension of another 20 years through a bid process. The airport will be built under the BOT (Build Operate Transfer) model.
GMR won the bid through a closely contested competitive bid process with Airports Authority emerging as the second highest bidder followed by the consortium of Essel Infra-Incheon emerging third.
The letter of award is expected to be issued within 60 days, while signing of concession agreement will be done within 45 days from the date of issuance of award letter.
Commenting on the development, Mr. Srinivas Bommidala, Chairman Airports, GMR Group, said, “GMR Airports Limited is delighted to have won the bid for the development and operation of Mopa Greenfield airport in Goa. We take this opportunity to reiterate our commitment to contributing to infrastructure development of India and assure the central and state governments that we will deliver an airport worthy of the state of Goa well within the project timelines. The bid win also reinforces GMR Group’s credentials as the largest airport developer and operator in India and one of the top 5 private airport developers across the world.”
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.
GMR Group owns and operates India’s Delhi Airport which is presently ranked as World’s No.1 airport in its passenger category as well as Hyderabad airport which has been consistently ranked among World’s top three airports in its category over the last 7 years. The Group had constructed Delhi airport’s Terminal 3 in a record time of 37 months and Istanbul’s Sabiha Gokcen airport in 18 months, which is a world record. GMR Infrastructure in partnership with Megawide Construction Corporation is also developing Mactan Cebu International Airport (MCIA) in Philippines.
About GMR Infrastructure Limited:
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; nine operating road assets and a double rail track line between Mughalsarai-New Bhaupur (Kanpur) of Eastern Dedicated Freight Corridor 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. 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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