Hyderabad: Amid lockdown, GMR Airports Limited (GAL) is all set to take over the development and operations of Greenfield international airport at Bhogapuram. GAL, which is also associated with Hyderabad international airport, will be maintaining Greenfield airport for the next forty years, the company announced on Monday.
According to the company, the initial capacity of Phase is expected to be six million passengers per annum. GAL will be involved in building, financing, designing, construction, modernization, up-gradation of the Bhogapuram airport for the next forty years. This can be extended by another 20 years through an international competitive bidding process, the company announced.
“We are very happy to be partnering with the Government of Andhra Pradesh to develop, operate and manage the prestigious Bhogapuram International Airport. We are excited about the potential of this region,” said GBS Raju, Business Chairman of GMR Airports.
The company said the passenger traffic at the Vizag airport has grown at 21% CAGR (Compound Annual Growth Rate) over the past 5 years. In terms of cargo traffic, it ranks fifth among the custom airports in India.
Located on the border of Visakhapatnam and Vizianagaram districts, Greenfield airport is approximately 45 km from Visakhapatnam through NH-5 and 25 km from Vizianagaram via NH-43. The site is strategically located on the east coast and is expected to benefit from the vast catchment area surrounding the region.