GMR Airports has signed the concession agreement with the state government of Goa, India for the development of northern Goa’s Greenfield International Airport.
Under the agreement GMR Airports, a subsidiary of GMR Infrastructure, will design, build, finance and operate the international airport.
The project will be constructed at Mopa through DBFOT model for a concession period of 40 years, extendable by 20 years.
The financing for the project is expected to be closed by early fiscal 2018 and the project will be constructed within three years of the date of financial closure.
GMR Group chairman airports Srinivas Bommidala said: “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 that not only reflects the rich cultural heritage and ethos of Goa but also augments Goa’s 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.”
The airport is expected to be operational by mid-2020.