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The National Investment and Infrastructure Fund (NIIF) and GMR Airports Limited have introduced a partnership to put money into three airport tasks in India, together with the greenfield worldwide airports at Mopa, Goa and Bhogapuram, Andhra Pradesh. This partnership will embody an funding of Rs6.31bn (US$76m) by NIIF in airport operator GMR Goa International Airport Limited (GGIAL), which can function New Goa Airport.
In 2016, GGIAL was awarded the concession to develop and function a second airport in Goa on a design-build-finance-operate-and-transfer (DBFOT) foundation. Mopa Airport is a greenfield airport public-private partnership (PPP) concession awarded by a state authorities. The airport has already acquired an aerodrome license and upon commissioning, shall type a part of the primary dual-airport system in India alongside Dabolim Airport.
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In the primary part, Mopa International Airport may have a design capability to deal with as much as 4.4 million passengers per yr, with an final capability of as much as 40 million passengers per yr. The venture is meant to supply infrastructure to help the continued progress of tourism and enterprise journey exercise in Goa.
In addition to Mopa International Airport, airport operator GAL (of which GGIAL is a subsidiary) can be growing the upcoming airports in Bhogapuram, Andhra Pradesh, and in Crete, Greece, and awaits signing of the concession settlement of Nagpur airport, which is a brownfield venture.
GBS Raju, enterprise chairman of airports at GMR Group, mentioned, “It is a proud moment for GMR Group having developed Mopa Airport. Goa is the prime holiday destination in India and is visited by travelers from across the world. We are confident that Mopa Airport will be a marquee airport in the country and shall add to the pride and economic development of the state. The airports have been designed to capture the vibrancy and the essence of Goan culture. Our partnership with NIIF, which will also extend to two more airports, is a further testament of GMR’s credibility as an airport infrastructure developer and the future of the aviation industry in the country.”
Vinod Giri, managing accomplice – grasp fund, NIIF, mentioned, “NIIF believes that Mopa International Airport will boost air connectivity to the state and provide strong tailwinds to the tourism-linked economy of Goa. NIIF’s master fund is India’s largest infrastructure fund and has built a robust and well-diversified portfolio across ports and logistics, renewables, smart meters, roads and digital infrastructure. NIIF’s investment in Mopa airport shall be the master fund’s sixth investment and is a testament to our commitment to partner alongside reputed infrastructure developers, state governments and key stakeholders to fast-track the execution of the Government of India’s ambitious National Infrastructure Pipeline. In line with the fund strategy, this investment complements the existing portfolio and is the first step for NIIF to expand its presence in the airport sector.”
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