Goa Airport Concession Agreement: An Overview
The Goa Airport Concession Agreement was signed in October 2020 between the Airports Authority of India (AAI) and GMR Goa International Airport Limited (GGIAL) for the development, operation, and management of Goa`s Dabolim International Airport. The agreement is valid for 40 years, including a five-year construction period and a 35-year operational period.
The agreement constitutes a public-private partnership (PPP), where GGIAL has been granted the duty to operate and maintain the airport`s existing terminal facilities while also constructing a new integrated terminal building with modern facilities. The project will cost an estimated INR 3,000 crore and is expected to be completed by 2022.
Under the terms of the agreement, GGIAL will pay a concession fee to AAI every year and a share of gross revenues generated from the airport`s operations. GGIAL will also have to comply with all applicable regulations, laws, and standards necessary for the safe, secure, and efficient operation of the airport. The concessionaire will be responsible for providing world-class facilities and services for passengers, airlines, and other stakeholders.
The agreement aims to make the Dabolim International Airport a more attractive destination for airlines, passengers, and businesses. The new integrated terminal building will increase the airport`s capacity from the current 6.5 million passengers per annum to 13 million passengers per annum. The airport will also become the first in India to have a multi-level car parking facility with a capacity of 2500 cars.
The airport will also be modernized with state-of-the-art facilities such as automated baggage handling systems, self-check-in kiosks, and e-gates for passenger boarding. The airport will also have various dining and retail outlets to enhance the passenger experience. The airport`s capacity enhancement will also help Goa to attract more tourists and businesses, thereby boosting the state`s economy.
The Goa Airport Concession Agreement is a significant milestone in the development of India`s aviation industry. The PPP model is an efficient way for the government to leverage private sector resources and expertise to modernize infrastructure. The agreement is expected to provide a boost to the country`s economy by creating jobs, attracting investments, and increasing connectivity. This development will have a profound impact on the tourism industry, which is a significant contributor to India`s GDP.
In conclusion, the Goa Airport Concession Agreement is a game-changer that will transform the Dabolim International Airport into a world-class facility. The agreement is beneficial to all stakeholders, including the government, the private sector, and the public. The development of this airport is a stepping stone towards achieving India`s aspiration of becoming one of the world`s leading aviation hubs.