PANAJI
This means that GMR Infrastructure will finance 70% of the construction cost through the route of borrowed funds, while its own funds will finance the remaining 30% of the cost.
Madhu Terdal, chief financial officer, GMR Infrastructure, was quoted by a leading web portal, as he said, “The financial documents have been sent to the Airports Authority of India for the approval. So, once the approval comes and some other approvals are awaited, we will be achieving financial closure. But, otherwise, GMR is ready to announce financial closure.”
This shows that GMR Infrastructure has arranged the required funds for the construction of Mopa airport and is only awaiting certain approvals from the government.
Tredal was further quoted by the web portal, as he said, “It has already been fully under-written; entire debt of Rs 1,400 crore - Rs 1,500 crore has been under-written by the banks.”
It was in August 2016 that GMR Infrastructure had won the bid for building Mopa airport. The first phase of Mopa airport is likely to get completed by May 2020.
