GMR Infra rallies over 9% as subsidiary bags Goa airport contract
The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process, said an ET report.
By ET Online | Updated:
NEW DELHI: Shares of GMR Infrastructure rallied as much as 9.2 per cent on BSE in morning trade on Monday after GMR Airports won the competitive bid for development and operation of the Rs 3,000 crore Mopa Greenfield Airport in North Goa.
At 09:30 am, GMR Infrastrcture pared some of the morning gains but was still trading 4 per cent higher at Rs 13.64. It hit a low of Rs 13.57 and a high of Rs 14.30 in the first 30 minutes of trade.
The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process, said an ET report.
The airport will be developed under the BOT (Build Operate Transfer) model.
This will be GMR's third airport in India after Delhi and Hyderabad. The conglomerate is also developing the Mactan Cebu International Airport ( MCIA) in the Philippines and has in the past developed an airport in Istanbul, Turkey.
At 09:30 am, GMR Infrastrcture pared some of the morning gains but was still trading 4 per cent higher at Rs 13.64. It hit a low of Rs 13.57 and a high of Rs 14.30 in the first 30 minutes of trade.
The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process, said an ET report.
The airport will be developed under the BOT (Build Operate Transfer) model.
This will be GMR's third airport in India after Delhi and Hyderabad. The conglomerate is also developing the Mactan Cebu International Airport ( MCIA) in the Philippines and has in the past developed an airport in Istanbul, Turkey.
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