A unit of GMR Infrastructure Ltd has won the final financial bid for construction of the greenfield airport at Mopa in North Goa.
The airport will be built through a ‘build-operate-transfer’ model, operable for the upcoming 40 years, which can be extended by another 20 years through a bidding process, according to the company’s press release on the Bombay Stock Exchange.
The Bengaluru-based company bagged the contract in a “closely contested bid” with five other bidders with the Airports Authority coming in second, followed by the consortium of Essel InfraIncheon.
The revenue model applicable for the airport will be of ‘hybrid till’ with a cross subsidy of 30 percent. Consumers will be charged on the basis of this revenue model, a GMR spokesperson explained. “The concession offers 232 acres of land for commercial city side development for a period of 60 years.” the press release said.
The airport’s construction deadline has been set till the year of 2020, a GMR spokesperson told BloombergQuint.