GMR to work on Mopa Airport

GMR Airports has been selected to construct the Mopa Airport with work starting early 2017. The first phase is expected to be ready in 2020.

Prime Minister Narendra Modi unveiled plaques to mark the foundation stone laying of Mopa Airport and an Electronic City at Tuam, during a function held on November 13, 2016, in Goa.

The Prime Minister also unveiled plaques to mark the inauguration of Infrastructure for building Mine Counter Measure Vessels; and inauguration of commencement of Construction of five Coast Guard Offshore Patrol Vessels.

Speaking on the occasion, Modi said the airport would benefit Goa and give an impetus to tourism trade.

Referring to the Electronic City project, he said a digitally trained, modern and youth driven Goa is being shaped today, which has the power to transform India.

Meanwhile, GMR Airports said will build, operate and transfer the Mopa Greenfield Airport under a 40-year concession period with extension option for another 20 years.

The regulatory regime for the concession will be hybrid till with 30 per cent cross subsidy.

The concession also offers 232 acres of land for commercial city side development for a period of 60 years.

GMR is the largest airport developer and operator in India and one of the top 5 private airport developers across the world. fii-news.com