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GMR Airport concludes fundraising for Mopa Airport Project

by Released

GMR Goa International Airports Limited, a subsidiary of GMR Airports Limited, has executed a debt facility agreement for the development of Greenfield airport at Mopa in Pernem taluka, North Goa district in the State of Goa, India.
GMR Airports had won the bid to develop and operate the Greenfield airport at Mopa in North Goa last year and the concession agreement was signed on Nov. 8, 2016. The foundation stone for the project was subsequently laid by the Hon’ble Prime Minister Shri Narendra Modi on Nov. 13, 2016.
“Having tied up funding for the project, we are working towards starting on-ground construction activity post monsoon. We are confident that the development of the new airport will significantly boost tourism in Goa and also lead to generation of employment opportunities for Goans,” said Srinivas Bommidala, chairman.

Goa has been witnessing an aviation boom with traffic at the existing Dabolim growing at a near 30 percent rate annually for the past three financial years.

As per the concession agreement, GMR will design, build, finance and operate the international airport for 40 years with extension option for another 20 years. The Greenfield airport will be developed in stages and will be scaled up as per traffic growth demands. The airport will be a full-service airport catering to domestic and international passenger besides freight services.

GMR Group owns and operates India’s busiest Delhi International Airport, which is ranked as world’s second-best airport and Hyderabad International airport, ranked as world’s best airport in its category. The group had constructed Delhi airport’s Terminal 3 in 37 months and Istanbul’s Sabiha Gokcen airport in 18 months. GMR Infrastructure, in partnership with Megawide Construction Corporation, is operating Mactan Cebu International Airport (MCIA) in the Philippines. The company recently won the bid to develop and operate the Greenfield International Airport of Heraklion at Crete Island, Greece.

 

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