government has approved a proposal of the Andhra Pradesh
government to set up a greenfield international airport
at Shamshabad near Hyderabad through the joint venture
route with public private partnership.
this project the Airports Authority of India (AAI) has
committed an equity contribution of 13 per cent, which
has been capped at Rs50 crore. Based on a competitive
bidding process, a consortium led by M/s. GMR Infrastructure
Limited with Malaysian Airport Holding Berhard (MAHB)
have been selected as the strategic joint venture parties
holding 74 per cent equity in the JVC and 13 per cent
equity is being held by government of Andhra Pradesh .
project agreements executed are: (i) concession agreement
(ii) state support agreement (iii) land lease agreement
(iv) CNS/ATM agreement (v) airport operation and management
agreement (vi) financing agreement and (vii)EPC agreements.
estimated expenditure expected to be incurred on the project
is to the tune of Rs1761 crore.
completion time for the project is 36 months from the
date of financial closure, achieved on 22 August 2005.