Mumbai: Bhogapuram International Airport, The cards have been completely cleared for the upgrade of another newly built global air terminal in Bhogapuram, near Visakhapatnam, as the Andhra Pradesh government agreed on a concession agreement with GMR Airports Ltd.
On Friday, April 4, In March, YS Jagan Mohan Reddy's agency decided to allow the GMR meeting to continue with the advancement of Bhogapuram International Airport in the Public-Private Partnership model. It endorsed the "most notable offer" offered by GMR.
However, GMR would receive only 2,200 sections of land compared to the 2,703 initially proposed, with the state government choosing to build the rest of the area alone.
Bhogapuram International Airport: Andhra Pradesh Government signs agreement with GMR
On Friday, the Special Chief Secretary of State (Industries and Infrastructure) Karikal Valaven and the President of GMR G B S Raju gave their consent to the concession agreement because of Chief Minister Jagan and Minister of Industries Mekapati Goutham Reddy.
Following the latest advance model, GMR has offered to pay Rs 303 PPF (per traveler expense) to the administration.
According to projections, the number of travelers is estimated to be 3.1 million by 2021 and 9,000,000 continuously by 2036, sources with the AP Airports Development Corporation said.
The improvement of another universal air terminal in Bogapuram, 40 km east of Visakhapatnam, was debated for the first time in 2014 after the state bifurcation. For different reasons, the task didn't take off in almost six years.
In August 2017, the Indian Airports Authority had won the offer to create the Bhagapura Airport; however, the state government in January 2018 repealed it, and the YSR Congress, at that time of resistance, claimed that it had to be done to "favor GMR for payments."
In the subsequent delicate slide by the administration, GMR developed as the highest bidder as the investment model changed.