GMR Airports Ltd (GAL), a subsidiary of GMR Infrastructure Ltd, 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 has emerged as the highest bidder in a closely contested bid with five bidders having prequalified viz GMR Airports, Airports Authority of India, Essel-Incheon, GVK and Hiranandani-Vinci. 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. The regulatory regime for the concession will be hybrid till with 30 per cent cross subsidy. The concession offers 232 acre for commercial city side development for a period of 60 years.
Commenting on the development, Srinivas Bommidala, Chairman Airports, GMR Group, said, “GMR Airports 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.”