Amaravati, Feb 26 : GMR Airports Limited (GAL) on Tuesday said it has emerged as the highest bidder for the development, operations and management of greenfield international airport on public-private partnership basis, at Bhogapuram in Andhra Pradesh.
The project involves design, build, finance, construction, development, upgradation, modernisation, operation and maintenance of the airport for 40 years.
GAL is a subsidiary of GMR Infrastructure Limited.
Andhra Pradesh Airports Development Corporation Limited (APADCL) had initiated the RFP process for new airport at Bhogapuram in November 2018.
As part of the qualification process, APADCL had shortlisted seven companies -- GMR Group, GVK, DoIt Infra, I-Investment, NIIF, Essel and Reliance Infra.
But only GMR Group, GVK and DoIt Infra submitted financial bids, GAL said in a statement.
The proposed airport, on the border of Visakhapatnam and Vizianagaram districts, is about 45 km from Visakhapatnam.
In 2018, airport at the Vishakhapatnam Naval Airfield handled 2.33 million passengers and 5,000 tonnes cargo.
Over the past four years, the passenger traffic at Visakhapatnam Airport has grown 14 per cent CAGR. It ranks fifth among the custom airports in India in terms of cargo traffic.
"The Bhogapuram airport project win will add to the growing portfolio of airports developed, managed and operated by GMR Airports.
We look forward to work on this airport and aim to deliver an airport of global standards, which would be a matter of pride for the region of Visakhapatnam and give a fillip to the economic potential of Andhra Pradesh," said G.B.S.
Raju, Business Chairman, GMR Group.
The company is looking forward to receive letter of award shortly.