GMR Infrastructure's airports division has been named as the highest bidder to develop a greenfield international airport at Bhogapuram in India's south-eastern Andhra Pradesh state.
GMR Airports will take responsibility for the design, financing and operation of the airport under a 40 year concession.
"The site is strategically located on the east coast and stands to 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," says GMR.
The Andhra Pradesh Airports Development Corporation launched an RFP for the new airport in November last year.
GMR adds that it outbid rival GVK to secure the concession.
Source: Cirium Dashboard