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AAI, GMR Group to bid for Greater Noida airport

Monday, 14 Oct 2019
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The Airports Authority of India (AAI) and GMR Group are expected to bid for the Greater Noida airport in Uttar Pradesh as the bidding process has begun.

 

AAI is in the process of taking legal opinion for placing its bid for the proposed international airport in the National Capital Region (NCR). It is also consulting the Civil Aviation Ministry on the plan and is confident of getting the go-ahead. AAI had participated in the bidding for a second airport in Goa.

GMR Group has the right of first refusal (RoFR) for any airport that is built within an aerial radius of 150 km of the existing airport in Delhi.

As per the RoFR terms, in case GMR-led joint venture firm fails to get the second airport in the competitive bidding, it will be allowed to match the first ranked bid provided it is within the range of 10 percent.

The Greater Noida airport at Jewar, expected to be functional by 2022, will entail an investment of Rs 16,000 crore.

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