Team Herald
PANJIM: As he completes two years in office on Tuesday, Chief Minister Laxmikant Parsekar is set to ink the biggest deal of his term as CM, when he signs the concession agreement with Bengaluru-based GMR Airports Ltd for developing the international airport at Mopa.
The controversial project, that has drawn objections, is likely to cost over Rs 4,500 crore, its first phase is estimated at Rs 3,100 crore, including escalations. The airport will be completed in four phases with work on the first phase likely to be completed by 2020.
Once its first phase is ready, the airport will be capable of handling 4.4 million passengers per annum. On final completion, it will be able to handle up to 26 million passengers.
GMR was among the five bidders shortlisted by the government, the others being Airports Authority of India, GVK Airport Developers Limited, Essel Infra Projects Limited and Voluptas Developers Private Limited.
The concession agreement will give the company the right to operate the business for 40 years, extendable by another 20 years.
As per sources GMR has formed a special purpose vehicle (SPV) – GMR Goa international airport limited (GMRGIAL) – for the project. The SPV will raise funds, design, construct and run the project.
The airport, will be built on an area of 84,68,261 sq mtrs (2093 acres), of which 252 acres would be utilized for commercial development.
Prime Minister Narendra Modi will lay foundation stone for the project which is to be built on Public Private Partnership (PPP) basis.
