GMR wins bid for Goa airport

DELHI: GMR group, which runs Delhi and Hyderabad airports, has won the bid to develop and operate the Rs 3,000-crore Mopa airport in Goa on a public private partnership basis with the state government.

mopa-mapThe GMR group, which is nearing completion in building the eighth largest airport terminal in the world in Delhi, with a floor space of 5.4 million sq ft, agreed to share 36.99% of the airport’s gross revenue with the Goa government, reports Business Standard.

The financial bids for the project were opened on August 26 and GMR group outbid two other contenders – the state run Airport Authority of India and Essel Infra, which quoted 32.31% and 27.1% revenue share. GVK group and Voluptas Developers did not submit financial bids.

Finalisation of bids signals a revival of airport construction projects in India which has been facing delays and red tape.

According to sources GMR will raise debt for funding the project. Recently, in a filing to the exchange, GMR Infrastructure said that it will seek shareholder’s approval to raise funds upto Rs 2,500 crore through issuance of equity shares, equity linked instruments, debentures or any other securities

Goa’s second airport which is expected to take three years for completion from the state of construction and will run parallel to the existing airport at Dabolim. The airport is under control of Indian Navy and this imposes restrictions on airline operations. In 2015-16 the Dabolim airport handled five million passengers equivalent to its handling capacity.


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