Diversified group GMR on Wednesday said it plans to spend
$700 million on airport projects in Cebu, the Philippines and Goa in a little
over three years.
Currently, GMR is operating airports in the national
capital, Hyderabad and Cebu under different public private partnerships.
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“We have plans of spending another $700 million (over
Rs 4,600 crore) for Cebu and Goa airports,” GMR Airports President
(Finance and Business Development) Sidharath Kapur said.
He was speaking at the inaugural session of Global Airport
Development (GAD) conference — which is taking place under the aegis of GMR
Airports Ltd and Delhi International Airport Ltd (DIAL) — here.
According to the concession agreement signed between GMR
Megawide Consortium (GMCAC) and Philippines’ Department of Transportation and
Communication (DOTC), the former has taken operational control for renovation
& modernisation of Mactan Cebu International Airport (MCIA) from November
2014, according to GMR website.
Last month, GMR Airports won the bid for development and operation
of Mopa green field airport in North Goa. The concession period for the project
would be 40 years with a possible extension of another 20 years through a bid
process.
The airport would be built under the BOT (Build Operate
Transfer) model.
On Tuesday, Kapur said DIAL, the joint venture firm, which
operates the aerodrome in the national capital, was looking to raise up to Rs
3,000 crore, including through Masala bonds to refinance debt.
