GMR Infra rises 9%; arm wins North Goa's greenfield Mopa airport

Moneycontrol BureauShares of GMR Infrastructure surged 9.2 percent intraday Monday as its subsidiary emerged as highest bidder for development of North Goa's greenfield Mopa airport."GMR Airports, a subsidiary of GMR Infrastructure has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa," as per BSE release.The company is going to built this airport on BOT (Build Operate Transfer) model and the concession period for the said project will be 40 years with a possible extension of another 20 years through a bid process.The letter of award is expected to be issued within 60 days, while signing of concession agreement will be done within 45 days from the date of issuance of award letter. Srinivas Bommidala, Chairman Airports, GMR Group said, “We take this opportunity to reiterate our commitment to contributing to infrastructure development of India and assure the central and state governments that we will deliver an airport worthy of the state of Goa well within the project timelines."At 09:30 hrs GMR Infrastructure was quoting at Rs 13.54, up Rs 0.45, or 3.44 percent on the BSE.Posted by Rakesh Patil