GMR group highest bidder for New Goa airport PPP project

The largest airport PPP in India, 10 years after award of Mumbai & Delhi airports in 2006, is a new Greenfield international airport project at Mopa in North Goa.

The Mopa airport project , which includes six-laning of road from the airport to National Highway 17, is expected to cost around Rs.3,300 crore (~$500 mn). The first phase of the project is expected to be completed in 3 years and cater to ~5 million passengers.

GMR group emerged highest bidder for this project. GMR, which already operates airports in New Delhi and Hyderabad in India, had competition from Airport Authority of India, Essel Infra Group ( in partnership with Incheon group of South Korea), GVK Group ( operators of Mumbai & Bangalore airports) and Voluptas Developers ( Hiranandani group in partnership with Vinci group of France). Finally 3 of the above 5 qualified bidders put in a bid.

The bidding was based on highest revenue share. GMR group revenue share was 36.99%, followed by AAI (32.31%) and Essel Infra group (27%).

The project has potential to transform not just Goa State but also Southern (coastal) Maharashtra. Credit to both Goa State Government and Ministry of Civil Aviation, Government of India to make happen.

Now let’s hope we see revival of airport PPPs. The next one in the pipeline is Navi Mumbai airport, which in terms of complexity and investment value is the biggest airport PPP project in the world. 4 bidders have been pre-qualified – GVK group, GMR group, Tata Reality and Vinci of France, Voluptas Developers & Zurich Airports. Keeping fingers crossed that the transaction gets completed in the current year.

KPMG are transaction advisors to State Government for both Goa and Navi Mumbai projects.

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