GMR Goa International Airports Limited (GGIAL), a subsidiary of GMR Airports Limited and a step-down subsidiary of the company, successfully executed debt facility agreement for the development of Greenfield airport at Mopa.
GMR Airports Ltd had won the bid to develop & operate the Greenfield airport at Mopa in North Goa last year and the concession agreement was signed on 8th November 2016. The foundation stone for the project was subsequently laid by the Hon’ble Prime Minister Shri Narendra Modi on 13th November 2016.
Goa has been witnessing an aviation boom with traffic at the existing Dabolim growing at a near 30% rate annually for the past 3 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.