GMR receives LoA for Bhagapuram International Airport from Andhra govt
GMR Airports Limited, a subsidiary of GMR Infrastructure Limited, on Monday announced that it has received the letter of award (LoA) for the development and operations of green-field International airport at Bhogapuram in Andhra Pradesh. The state government had proposed the green-field airport at Bhogapuram in Vizianagaram district as an alternative to the existing airport in Visakhapatnam.
In February 2019, the company had emerged as the highest bidder for project on a public private partnership basis.
The project involves design, build, finance, construction, development, up-gradation, modernisation, operation and maintenance of the Bhogapuram Airport for the period of 40 years, extendable by additional 20 years through international competitive bidding process, with GMR Airport Limited having the right of right refusal of 10 per cent.
