GMR Infrastructure shares surged nearly 10 per cent on Monday after its subsidiary, GMR Airports Ltd, won the bid for development and construction of Mopa greenfield airport in North Goa.
The airport will be built under the BOT (built operate transfer) model. Concession period for the project will be 40 years, with a possible extension of another 20 years through bidding, GMR said in a release to exchanges.
The GMR Group also owns and operates Delhi's Indira Gandhi International Airport as well as Hyderabad airport.
GMR Infrastructure, in partnership with Megawide Construction Corporation, is also developing Mactan Cebu International Airport (MCIA) in the Philippines.
GMR Infrastructure shares closed 1.14 per cent higher at Rs 13.30 compared to 0.43 per cent gain in the Sensex.
(With agency inputs)
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