GMR Airports Ltd (GAL) a subsidiary of GMR Infrastructure Ltd, is one of the largest airport developers in the world; handling more than 70 million passengers per annum both in India & Overseas.
GMR will design, build, finance and operate the international airport for 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 mid of 2020.
Srinivas Bommidala, Chairman-Airports, GMR Group, said, “We are excited about the project and the opportunity to partner with the Government of Goa.. 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 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.”
In August, 2016, GMR Group won 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% 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 India’s busiest Delhi International Airport, ranked as World’s No.1 airport for two consecutive years and Hyderabad International airport, consistently ranked among World’s top three airports in its category respectively.
GMR Infrastructure, in partnership with Megawide Construction Corporation, is also developing Mactan Cebu International Airport (MCIA) in Philippines. In the last week of October, 2016, GMR Airports Limited (GAL) 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.