GMR to develop greenfield international airport in Goa
DSIJ Intelligence / 09 Aug 2017
GMR Airports has won the project through an international competitive bidding process with the highest revenue share of 36.99%.
GMR Goa International Airport, an SPV formed by GMR Airports, has signed a concession agreement with with the Goa government for development and operation of a greenfield international airport at Mopa, informed Minister of State for Civil Aviation Jayant Sinha.
GMR Airports has won the project through an international competitive bidding process with the highest revenue share of 36.99%. The project will operate in a hybrid model with 30% cross-subsidy and is to be implemented in four phases. The total estimated cost of Phase I of the project is Rs 3,100 crore, informed the minister.
Earlier, in July, GMR Goa International Airport had successfully executed a debt facility arrangement for the development of the greenfield project by signing a common loan agreement with Axis Bank.
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