GMR Airports highest bidder for privatisation of Nagpur Airport

GMR Infrastructure's subsidiary GMR Airports has emerged as the highest bidder for privatisation of the Nagpur Airport.

GMR Airports highest bidder for privatisation of Nagpur Airport
GMR Infrastructure's subsidiary GMR Airports has emerged as the highest bidder for privatisation of the Nagpur Airport. Image Source: Reuters
By PTI
Updated: Mon, Oct 01, 2018
05:56 pm
New Delhi, PTI
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GMR Infrastructure's subsidiary GMR Airports has emerged as the highest bidder for privatisation of the Nagpur Airport.

"GMR Airports ..Has emerged as the highest bidder for the development, operations and management of Dr Babasaheb Ambedkar International Airport, Nagpur on a public private partnership (PPP) basis," GMR Infra said in a BSE filing Monday.

MIHAN India, a joint venture between Maharashtra Airport Development Company and Airport Authority of India, had started the RFP process to privatise the Nagpur Airport in March 2018. 

"The project involves upgradation, modernisation, operation and maintenance of Nagpur Airport for a period of 30 years and includes construction of a new terminal amongst other works," the company said. 

Two companies -- GMR Airports and GVK -- had submitted bids for the project. "GMR Airports has submitted highest revenue share bid and expecting letter of award shortly," it added.

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In 2017-18, Nagpur Airport handled 2.18 million passengers and 7,800 MT cargo. Shares of GMR Infra were trading 1.55 per cent up at Rs 16.35 apiece on BSE.