GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd, has won a contract to develop, operate and manage the airport in Nagpur on a Public Private Partnership (PPP) basis for a period of 30 years.
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 upgradation, modernisation, operation and maintenance of Nagpur Airport for a period of 30 years and includes construction of a new terminal among 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,” GMR said in a release.
During 2017-18, 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.
“We eagerly look forward to completing the formalities and commence the concession early 2019,” Sidharath Kapur, Executive Director, GMR Airports Limited was quoted in a press statement.
