GMR Airports (GAL) has signed a deal with Andhra Pradesh Government for the development and operations of a Greenfield international airport at Bhogapuram in the state’s Vizianagaram district.
The project will be carried out by GAL’s 100% owned subsidiary, GMR Visakhapatnam International Airport (GVIAL), on a public-private partnership (PPP) basis. In April this year, GAL had received the Letter of Award for implementation of the project on a PPP basis.
GVIAL will design, build, finance, construct, develop, operate and maintain this greenfield international airport at Bhogapuram for 40 years, extendable by additional 20 years through international competitive bidding process, with GMR airports limited having right of first refusal (ROFR) of 10%. The airport will start with a phase-I capacity of 60 lakh passengers annually.
The proposed greenfield airport site lies on the border of Visakhapatnam and Vizianagaram districts, and is approximately 45 kms from Visakhapatnam through NH-5 and 25 kms from Vizianagaram via NH-43. The site is strategically located on the east coast and stands to get benefit from the vast catchment area surrounding the region. Moreover, the beach corridor development is underway in proximity to the proposed International Airport in Bhogapuram which will provide impetus to retail and hospitality developments in the region.
“We are very happy to be partnering with Government of Andhra Pradesh to develop, operate and manage the prestigious Bhogapuram International Airport. In line with our past record of creating world class infrastructure, including the iconic Terminal 3 at Delhi International Airport and in line with the GMR Group’s long term commitment towards Airports’ development, we aim to build a truly world class airport at Bhogapuram which would be a matter of pride for the State of Andhra Pradesh and provide a further fillip to the economic potential of this region,” GMR Airports Business Chairman GBS said Raju in a statement.
“Bhogapuram Airport is a strategically located high potential airport. It will be a welcome addition to our growing portfolio of Indian and global airports and strengthens the airport platform of GMR Airports. We eagerly look forward to completing the formalities and commence the construction,” GMR Airports Limited Executive Director- South and Chief Innovation Officer SGK Kishore said.
