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GGIAL concludes fund raising for Mopa airport project

GGIAL concludes fund raising for Mopa airport projectMumbai, July 10 (IANS) GMR Goa International Airport Ltd. (GGIAL) on Monday said it has executed debt facility agreement for the development of a greenfield airport at Mopa located in north Goa.

"The entire debt of Rs 1,330 crore was underwritten by Axis Bank on long tenor door-to-door basis of 18 years on competitive terms," said Sidharath Kapur, President, GMR Airports.

"The confidence of banks on the project reflects the intrinsic strength of the project and also the operational and delivery capability of the Spronsor GMR Airports."

 

According to the subsidiary of GMR Airports, it is now working towards starting ground construction activity post-monsoon.

As per estimates, Goa has witnessed an aviation boom with traffic at the existing Dabolim airport growing at a near 30 per cent rate annually for the past three financial years.

Last year, GMR Airports won the bid to develop and operate the greenfield airport at Mopa located in North Goa.

The concession agreement allows GMR to design, build, finance and operate the international airport for 40 years with extension option for another 20 years.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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GGIAL concludes fund raising for Mopa airport project

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.

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