GMR InfrastructureNSE 1.57 % is evaluating options to bid for a €3.9-billion, or about Rs 32,370-crore, project to develop and manage Sofia airport, Bulgaria’s largest, two people familiar with the matter said. Bulgaria had in June last year invited bids for a 35-year concession agreement that included building a new terminal and an upfront payment of €281million, or about Rs 2,332 crore.
The final date of bid submissions to take over operations of the airport from the state is October 22.
According to the tender document and Bulgarian transport minister Ivaylo Moskovski’s statements from last year, the 35-year concession agreement also entails annual fees of not less than €7.7 million (Rs 64 crore), or 10% of annual revenue, whichever is higher. The concession can be extended to 46 years and seven months.
GMR has not yet made a final decision to bid on its own or on a tie-up with a local partner, said one of the sources cited earlier. GMR did not respond to a query seeking comment as of press time on Tuesday.
In 2017, Sofia Airport served 6.5 million passengers, an increase of 30% on year. The airport is controlled by Sofia Airport EAD, a sole proprietary company with 100% state ownership. The airport has two terminals. The concessions entails construction of a third one.
GMR, which operates Delhi and Hyderabad airports, is also in race with rival GVK’s airport holding company and 28 other firms for operations and management contract for the Philippines’ Clark International Airport. A GMR group company, along with its partner Manila-based Megawide, was awarded the engineering, procurement and construction contract for the same airport in December last year.
The GMR-Megawide joint venture last month opened a new terminal at the Mactan Cebu international airport in the Philippines.
The company also won the bid to develop, operate and manage a new international airport at Crete, Greece, in partnership with local company Terna last year.
Source: Economic Times