GMR Airports, a subsidiary of GMR Infrastructure, has emerged as the highest bidder for the development, operations and management of Dr Babasaheb Ambedkar International Airport in Nagpur in the Indian state of Maharashtra.
The request for proposal (RFP) process to privatise the Nagpur Airport was started by MIHAN India, a joint venture (JV) between Maharashtra Airport Development Company and the Airport Authority of India (AAI), in March this year.
The project, which will be developed on a Public Private Partnership (PPP) basis, includes up-gradation, modernisation, operation and maintenance of the airport for a period of 30 years. It also involves the construction of a new terminal amongst other works.
GMR Airports business chairman GBS Raju 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.”
GMR Airports vied against GVK and submitted the highest revenue share bid. It is expecting the letter of award shortly.
During the financial year 2017-18, Nagpur Airport welcomed 2.18 million travellers and 7,800 million tonnes of cargo. The airport has witnessed an 11% compound annual growth rate in passenger traffic growth over the last five years.
GMR Airports executive director Sidharath Kapur said: “Nagpur Airport is a strategically located high-potential airport. It will be a welcome addition to our growing portfolio of Indian and global airports and strengthen the airport platform of GMR Airports.
“We eagerly look forward to completing the formalities and commence the concession early 2019.”
GMR Group’s Airport portfolio includes Indira Gandhi International Airport in New Delhi, Hyderabad’s Rajiv Gandhi International Airport and Mactan Cebu International Airport in collaboration with Megawide in the Philippines.