Hyderabad: Infrastructure major GMR on Monday said its subsidiary GMR Airports Limited (GAL) has received the letter of award (LoA) from the AP government for the development and operations of the greenfield international airport at Bhogapuram. The first phase capacity of the airport is slated to be six million passengers per annum.
GAL had emerged as the highest bidder for the public private partnership (PPP) project in February 2019 with a fee of Rs 303 per passenger offered as a share of revenue to the government. The other two bidders — Doit Smart Infrastructure India Pvt Ltd and GVK group — had offered Rs 261 and Rs 207 per passenger, respectively.
The PPP project involves design, build, finance, construction, development, upgradation, modernization, operation and maintenance of the greenfield international airport at Bhogapuram for a period of 40 years, which is extendable by an additional 20 years through international competitive bidding process, with GMR having RoFR (right of first refusal) of 10%.
The first phase of the project is slated to be completed in 36 months after commencement of work at a cost of around Rs 2,300 crore, as per estimates. Though initially the airport was to be developed on nearly 2,700 acres of land, the AP government in March this year decided that it will give GMR group only 2,200 acres for the project, with the remaining land to be developed by the state government.
In calendar year 2019, the existing civil enclave at Vishakapatnam Naval Airfield handled 2.78 million passengers and 4,400 tonnes of cargo. Over the past five years the passenger traffic at Vizag airport has grown at a rate of 21%, while it ranks fifth among the custom airports in India in terms of cargo traffic, GMR said.
14/04/20 Times of India
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GAL had emerged as the highest bidder for the public private partnership (PPP) project in February 2019 with a fee of Rs 303 per passenger offered as a share of revenue to the government. The other two bidders — Doit Smart Infrastructure India Pvt Ltd and GVK group — had offered Rs 261 and Rs 207 per passenger, respectively.
The PPP project involves design, build, finance, construction, development, upgradation, modernization, operation and maintenance of the greenfield international airport at Bhogapuram for a period of 40 years, which is extendable by an additional 20 years through international competitive bidding process, with GMR having RoFR (right of first refusal) of 10%.
The first phase of the project is slated to be completed in 36 months after commencement of work at a cost of around Rs 2,300 crore, as per estimates. Though initially the airport was to be developed on nearly 2,700 acres of land, the AP government in March this year decided that it will give GMR group only 2,200 acres for the project, with the remaining land to be developed by the state government.
In calendar year 2019, the existing civil enclave at Vishakapatnam Naval Airfield handled 2.78 million passengers and 4,400 tonnes of cargo. Over the past five years the passenger traffic at Vizag airport has grown at a rate of 21%, while it ranks fifth among the custom airports in India in terms of cargo traffic, GMR said.
14/04/20 Times of India
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