/press-releases
  • Agreement signed with Government of Goa
  • Airport to be built through DBFOT model for concession period of 40 years, extendable by 20 years
  • Financial closure expected by early FY 17-18
  • Airport to be built in 3 years from date of financial closure
  • Airport to have Hybrid Tillmodel with 30 percent cross subsidy
  • Winning of the project reinforces GMRs position as a globally credible and financially strong airport developer

GMR Airports Limited, a subsidiary of GMR Infrastructure Limited, today signed the Concession Agreement with Government of Goa for the development and operation of north Goa’s Greenfield International Airport at Mopa.

The agreement is signed by Mr RV Sheshan, CEO, GMR Goa International Airport Limited and Mr RK Srivastava, Chief Secretary, Government of Goain the presence of Mr Laxmikant Yashwant Parsekar, Honble Chief Minister of Goa, Mr SrinivasBommidala, Chairman Airports, GMR Group and other dignitaries.

As per the concession agreement, GMR will design, build, finance and operate the international airportfor 40 years with extension option for another 20 years. The construction period for the first phase of the project is three years from the date of financial closure and is expected to be operational by midof 2020.

Mr SrinivasBommidala, Chairman Airports, GMR Group, said, “We are excited about the project and the opportunity to partner with the Government of Goa. GMR Group has already delivered landmark airport assets for the Country. Delhi International Airport which is the Gateway of India today ranked as the Number One Airport in the World in its category. This has brought tremendous pride to the Country and all Indians. Worldwide airports have been the economic engine of the Country Region, and Delhi Airport has tremendously boosted not only the India’s economy but also the Delhi State economy. GMR Group very humbly takes pride in being the custodians of these national assets thus contributing towards our Honble Prime Minister ShriNarendra Modis vision of developing a progressive India.

Goa is the marquee beach tourist destination of India. Given our vast experience in the airport space, we are confident that we will deliver an airport which not only reflects the rich cultural heritage & ethos of Goa but also augments Goas standing as the leading tourist destination of choice in Asia while boosting jobs for the local community and bringing economic benefits to the state of Goa”.

In August 2016, GMR Groupwon the project through international competitive bidding with Airports Authority of India emerging as the second highest bidder followed by the Essel Infra Incheon consortium. The project will operate on hybrid till model with 30 percent 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 Indias busiest Delhi International Airport, ranked as Worlds No.1 airport for two consecutive years and Hyderabad International airport, consistently ranked among Worlds top three airports in its category respectively. The Group had constructed Delhi airports Terminal 3 in a record time of 37 months and Istanbul’s SabihaGokcen airport in 18 months. GMR Infrastructure, in partnership with Megawide Construction Corporation, is also developing Mactan Cebu International Airport in Philippines.In the last week of October 2016, GMR Airports Limited has submitted the bid along with its partner GEK Terna Group of Greece for the Development, Operations and Management of New International Airport of Heraklion at Crete Island, Greece

For further information about GMR Group, visit https://www.gmrgroup.in/index.html

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For Further Information, please contact:

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  • Yuvraj Mehta
  • Ritesh Mehta
  • Group Head & VP – Corporate Communications
  • Manager - Corporate Communications

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