The agreement signed with the government of Goa involves building the airport through a design-build-finance-operate-transfer model, with a concession period of 40 years, extendable by 20 years.
GMR Airports, a subsidiary of GMR Infrastructure, is one of the largest airport developers in the world. The airports it operates in India and elsewhere together have more than 70 million passengers a year.
Financial closure of the project is expected by early in the financial year 2017-2018. The airport is to be built in three years from the date of financial closure.