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 of India 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 the concession agreement will be done within 45 days from the date of issuance of award letter.
Commenting on the development, 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 five private airport developers across the world.”
The regulatory regime for the concession will be hybrid till with 30 per cent 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 the World’s No1 airport in its passenger category as well as Hyderabad Airport which has been consistently ranked among the world’s top three airports in its category over the last seven 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 the Philippines.