GMR Infra Likely to Bid for Bulgarian Airport Project

GMR Infrastructure is evaluating options to bid for a €3.9-billion, or about Rs 32,370-crore, project to develop and manage Sofia airport, Bulgaria's largest, two people familiar with the matter said. Bulgaria had in June last year invited bids for a 35-year concession agreement that included building a new terminal and an upfront payment of €281million, or about Rs 2,332 crore. 

The final date of bid submissions to take over operations of the airport from the state is October 22. 

According to the tender document and Bulgarian transport minister Ivaylo Moskovski's statements from last year, the 35-year concession agreement also entails annual fees of not less than €7.7 million (Rs 64 crore), or 10% of annual revenue, whichever is higher. The concession can be extended to 46 years and seven months. 

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