GMR emerges as the highest bidder for the privatisation of Nagpur Airport

Deepthi | Myequity news | Date : 01-10-2018 10:35:00 IST

GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd. - has emerged as the highest bidder for the Development, Operations and Management of Dr. Babasaheb Ambedkar International Airport, Nagpur on a Public Private Partnership (PPP) basis.

MIHAN India Limited, a joint venture between Maharashtra Airport Development Company (a Government of Maharashtra undertaking) and Airport Authority of India, had started the RFP process to privatize the Nagpur Airport in March 2018. The project involves Up-gradation, Modernization, Operation and Maintenance of Nagpur Airport for a period of 30 years and includes construction of a new terminal amongst other works. Two bidders viz. GMR Airports and GVK submitted their bids. GMR Airports Limited has submitted highest revenue share bid and expecting Letter of Award shortly.

In FY2017-18, Nagpur Airport had handled 2.18 million passengers and 7800 MT cargo. Over the past 5 years the passenger traffic at the airport has grown at 11% CAGR while the Airport ranks 17th in India in terms of Cargo traffic. Nagpur is located strategically at the geographical center of India. It is the second capital of Maharashtra and the 3rd largest city in Maharashtra by population after Mumbai and Pune. It is the 13th largest city in India. Nagpur is fast emerging as a major IT/ITES, logistics, and aerospace hub along with a major manufacturing base.

GBS Raju, Business Chairman GMR Airports said, “We are very pleased to emerge as the highest bidder for privatisation of Nagpur Airport. We look forward to work on this prestigious airport and to upgrade the existing airport to global standards which would be a matter of pride for the city of Nagpur and provide a further fillip to the economic potential of Vidharba region.”

About GMR Infrastructure Limited:

GMR Group, a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure. GMR Group’s Airport portfolio has around 159 mn passenger capacity in operation and under development, comprising of India's busiest Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport, Mactan Cebu International Airport in partnership with Megawide in Philippines. While greenfield projects under development includes Airport at Mopa in Goa and Airport at Heraklion, Crete, Greece in partnership with GEK Terna. Recently, the GMR-Megawide consortium has won the Clark International Airport’s EPC project, the second project in Philippines. It is also developing smart cities adjacent to Delhi and Hyderabad airports.

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