GMR Goa International Airports Limited (GGIAL), a subsidiary of GMR Airports Limited, on Monday announced that it has successfully executed debt facility agreement for the development of Greenfield airport at Mopa.
GMR Airports Ltd had won the bid to develop and operate the Greenfield airport at Mopa in North Goa last year and the concession agreement was signed on 8, November 2016.
Sidharath Kapur, President, GMR Airports Ltd, said, “The entire debt of Rs 1330 crores was underwritten by Axis Bank on long tenor door to door basis of 18 years on competitive terms. The confidence of banks on the project reflects the intrinsic strength of the project and also the operational and delivery capability of the Sponsor GMR Airports Ltd”.
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.
