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Prime Minister Narendra Modi will inaugurate the first phase of the international airport at Mopa in Goa on Sunday during his visit to the coastal state, where he will also address the valedictory function of the <keyword id="491656" type="General" weightage="20" keywordseo="World-Ayurveda-Congress" source="Orion">World Ayurveda Congress</keyword>, officials said. He will also virtually inaugurate a host of other projects, including the All India Institute of Ayurveda in North Goa's Dhargal, the National Institute of Unani medicine in Ghaziabad (Uttar Pradesh) and the National Institute of Homeopathy in Delhi’s Narela, they said. The Goa Chief Minister's Office (CMO) said that the prime minister will address the World Ayurveda Congress event at 2 pm. At 4 pm, he will commission the first phase of the Mopa intenational airport, where state Governor P S Sreedharan Pillai, Union Minister for Civil Aviation and Steel Jyotiraditya Scindia, Union Minister of state for Ports, Shipping and waterways Shripad Naik, Goa Chief Minister Pramod Sawant will be present, it said. The airport at Mopa in North Goa, being built at a cost of Rs 2,870 crore, will be the second facility in the state in addition to the existing airport at Dabolim. The airport will have the capacity to handle 44 lakh passengers per annum in the first phase and it will go up to one crore passengers per annum after the completion of the entire project, the officials said. The existing Dabolim Airport has the capacity to handle 85 lakh passengers in a year, but it does not have the facility for cargo transportation, which is there at the new airport. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-abstains-on-unsc-resolution-exempting-aid-from-sanctions-says-terror-groups-in-neighbourhood-take-advantage-of-carve-outs/articleshow/96125902.cms" style="">India abstains on UNSC resolution exempting aid from sanctions, says terror groups in neighbourhood take advantage of carve-outs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/uttar-pradesh-to-start-marking-school-attendance-using-facial-recognition/articleshow/96145648.cms" style="">Uttar Pradesh to start marking school attendance using facial recognition</a>

PM Modi to inaugurate Mopa international airport in Goa

Mumbai, Jan 19 () Aviation consultancy firm CAPA has said it expects the second international airport in Goa to be ready for operations in next three years. 
 The Supreme Court on Thursday cleared the decks for construction of an international airport by the GMR Group at Mopa in North Goa by lifting suspension on environmental clearance (EC) granted for the project.
 Immediately after SC's order, the GMR Group said it plans to start work soon for the new aerodrome.
 The top court had early last year suspended the EC granted for the greenfield airport and had directed the Expert Appraisal Committee (EAC) to revisit the decision in light of its impact on the ecology there.
 "Delays in critical infrastructure projects is costly for the economy and the consumer. It is good that GMR Group's Mopa project finally got clearance. We can look forward to new airport in next three years," CAPA South Asia Chief Executive Officer Kapil Kaul told .
 The state government had initially given September 2020 as the deadline for commissioning of the estimated Rs 3,000 crore airport project after GMR Group won bids for development and operations of the aerodrome in 2016, beating state-run Airports Authority of India (AAI) and Essel Infra-Incheon.
 However, Goa Chief Minister Pramod Sawant said in the Assembly last year that he was expecting the airport to be completed by 2021.
 Kaul also said that the the delay is likely to push up the project cost, but its impact could be minimised.
 "There will be cost escalation but GMR has the ability to minimise the impact," he said.
 GMR had last year said it was incurring a loss of Rs 50 lakh per day on account of suspension of work at the project.
 The new airport, which under the concession agreement offers 232 acres of land for commercial city side development for a period of 60 years, would have a capacity to handle 30 million passengers annually once fully operational.
 The existing airport at Dabolim, which was designed to handle 50 lakh passengers per year, has far exceeded its capacity and AAI has already embarked on an expansion plan to increase the capacity to 1.30 crore passengers per annum by 2022. 
 The concession period for the greenfield project will be 40 years with a possible extension of another 20 years through a bid process.
 The airport will be built under the BOT (Build Operate Transfer) model.
 The regulatory regime for the concession will be hybrid till with 30 per cent cross subsidy.
 Under the hybrid till model, only up to 30 per cent of the non-aeronautical revenues, which include segments like retail, food and beverages and parking, would be used for cross-subsidisation of aeronautical charges. 
 Aeronautical charges include those related to route and terminal navigation services. IAS RVK

Goa's 2nd international airport in Mopa to be ready in 3 years: CAPA

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> announced measures that will benefit both airline operators like IndiGo and SpiceJet, as well as developers like GMR, GVK, and Adani Group.</li><li>India opened up more of its airspace for airlines to ply, decided to put up more airport development projects for bidding. </li><li>Another major investment was Sitharaman’s bid to make India an MRO hub – Maintenance, Repair and Overhaul.</li></ul>India opened up more of its airspace for airlines to ply, decided to put up more airport development projects for bidding, and ease taxation as well as restrictions on maintenance and repair to bring down costs for aviation firms. These reforms announced by Finance Minister Nirmala Sitharaman will benefit both airline operators like IndiGo and SpiceJet, as well as developers like GMR, GVK, and Adani Group. <div type="image" title="indigo." msid="75775924" hostid="261"></div> <div type="image" title="spicejet." msid="75775928" hostid="261"></div> The government estimates airlines will save about ₹1,000 crore a year by flying shorter routes. “60% of the Indian airspace is freely available, because it is fairly restricted for civil and defence purposes, so we have been taking longer routes. This has to be rationalised for optimum utilization of time and fuel. Customers can get to their destinations quicker and cheaper,” Sitharaman said. More airport projects up for grabs The second step taken was that six more airports will be put up for auction by the Airports Authority of India and will be built on public private spaces. “Additional investments will be made by private players in 12 airports where investments are already present. The financial implications will be on the AAI. The first and second round of investments to get ₹13,000 crore,” said Sitharaman. India currently has several airport projects under construction – the Jewar international airport in Greater Noida, the Mopa Airport in Goa, Navi Mumbai international airport in Maharashtra, Sabarimala airport in Kerala among others. In April 2020, GMR got the go-ahead for the Bhogapuram airport in Andhra Pradesh. In February 2019, the Adani Group won a tender to operate all six government-owned Indian airports located in Ahmedabad, Jaipur, Mangaluru, Trivandrum (Thiruvananthapuram), Lucknow, and Guwahati. Making India an airline maintenance hub Another major investment was Sitharaman’s bid to make India an MRO hub – Maintenance, Repair and Overhaul. “Most Indian aircrafts go abroad for their repair works and spend there. But India has all the capacity – manpower and soft skills to set up an MRO hub here. India can be the centre for many of the flights for South East Asia as well as westwards,” she said. This will be a major step that we want to make sure India benefits from, she added. Not just the civil sector but defence aircrafts will also benefit from it. Through this, maintenance will also be cheaper for the aviation sector. The issue the MRO industry used to face because of the aircraft used to fly to other countries for repair. "In India we have a promising civil aviation sector, so we want the MRO sector to be located in India and much of the repair work should be done here. The problem they used to face was competitiveness was in GST. GST rate used to be 18%, so the meeting held in March the rate has been brought down to 5% with full input tax credit and that is something that will make the MRO industry very competitive," said the government. The coronavirus pandemic has left the Indian airlines sector stranded on the runway. All domestic and international flights have been suspended ever since the lockdown. “It will take 2-3 years for air travel to return to 2019 levels and a few more years to return to long-term growth trends according to Boeing,” said a Centrum Broking report last week. The <keyword id="34987" type="ORGANIZATION" weightage="20" keywordseo="aviation-industry">aviation industry</keyword> is staring at losses to the tune of ₹25,000 crore, according to a CRISIL report. “These are preliminary estimates, and aggregate losses could increase if the lockdown is extended beyond the first quarter. As and when operations resume, overall operational capacity will hover at 50-60% for the rest of the fiscal. Consequently, mergers and acquisitions of airlines, and relook at expansion plans of private and upcoming greenfield airports would be possibilities," <a href="https://www.livemint.com/news/india/covid-19-impact-indian-aviation-may-incur-rs-25-000-crore-losses-says-crisil-11588838896045.html">said Jagannarayan Padmanabhan</a>, director and practice leader, transport &amp; logistics, Crisil Infrastructure Advisory. <a href="https://www.thehindu.com/opinion/op-ed/will-the-aviation-industry-recover-from-the-pandemic/article31359708.ece">Globally</a>, the industry’s revenues could be cut by $252 billion in 2020.

Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for

<ul><li>GMR Infrastructure Ltd (GIL) has entered into a strategic partnership with France's Groupe ADP to sell 49% stake in its airports arm for ₹10,780 crore.</li><li>The first tranche of ₹5,248 crore will be received by GMR Group immediately.</li><li>GMR will retain management control of the airports business while Group ADP will have representatives in the Board of Directors.</li></ul>GMR Infrastructure's share price soared over 11% on Monday (Feb 24) after the company announced that it has agreed to sell 49% stake in its airports business to Groupe ADP, which operates the <keyword id="8822771" type="UNKNOWN" weightage="20" keywordseo="charles-de-gaulle-airport">Charles-de-Gaulle airport</keyword> in Paris. Investors lapped up the shares of the Indian company that operates the airports in Delhi and Mumbai as the deal would give the much-needed money to repay debt as well as add credibility to GMR's ability to build and operate airports in other parts of the world. 
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 GMR Infra's net debt at the end of December 2019 stood at about ₹25,700 crore, according to Edelweiss. Aside from this, there are foreign-currency (convertible into shares) loans worth $300 million (about ₹ 21,000 crore). 43% of that belonged the infrastructure major's airport vertical. 
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 The first tranche of ₹5,248 crore will be received by GMR Group immediately, according to a company statement. "This money will help deleverage the Group further and result in improved cash flows and profitability. As part of the terms of transaction, GMR will retain management control of the airports business while Groupe ADP will have the customary rights and board representation at GAL and its key subsidiaries," it added. The development assumes significance since last year GIL had announced a pact with Tata Group and other investors to divest 49% stake in its airports business. However, there has been no movement regarding the same. GMR Group's airport portfolio has around 172 million passenger capacity in operation and under development, comprising India's busiest Indira Gandhi International Airport in New Delhi, Hyderabad's Rajiv Gandhi International Airport and the Mactan Cebu International Airport in partnership with Megawide in the Philippines. <div type="image" title="New Delhi: Passengers cross a road with their luggage, outside Delhi Airport dur..." msid="74278239" hostid="261" caption="&amp;lt;p&amp;gt;Passengers cross a road with their luggage, outside Delhi Airport during transport strike, in New Delhi. Commuters faced difficulties in reaching their destinations on Thursday as several private buses, taxis and autorickshaws remained off the roads due to a strike called by the UFTA against the amended Motor Vehicle Act provisions.Photo/Arun Sharma) (&amp;lt;/p&amp;gt;"></div>

 While greenfield projects under development include airport at Mopa in Goa and at Heraklion, Greece, in partnership with GEK Terna. The Group has also received Letter of Intent for development and operations of Nagpur Airport on PPP basis and has further emerged as the highest bidder for the development and operation of the greenfield airport at Bhogapuram in Andhra Pradesh. Furthermore, the group recently signed concession agreement to commission, operationalise and maintain the civilian enclave at the Bidar Airport in North Karnataka. With inputs from IANS SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/heres-how-max-financial-deal-with-axis-bank-will-benefit-both-companies/articleshow/74276841.cms" data-type="tilCustomLink" target="_blank">Here's how Max Financial deal with Axis Bank will benefit both companies</a>

Paris airport operator gives GMR Infra money to repay debt and access to global projects

The <keyword id="826" type="General" weightage="100" keywordseo="goa" source="Orion">Goa</keyword> government on Friday launched a taxi service app through which people can book a cab online to travel anywhere within the coastal state. Chief Minister <keyword id="864632" type="General" weightage="50" keywordseo="pramod-sawant" source="Orion">Pramod Sawant</keyword> launched the "Goa Taxi App" in the presence of state Tourism Minister <keyword id="891123" type="General" weightage="50" keywordseo="rohan-khaunte" source="Orion">Rohan Khaunte</keyword>, <keyword id="86544" type="General" weightage="50" keywordseo="goa-tourism-development-corporation" source="Orion">Goa Tourism Development Corporation</keyword> (GTDC) chairman Ganesh Gaonkar and director of tourism <keyword id="13127860" type="General" weightage="50" keywordseo="suneel-anchipaka" source="Orion">Suneel Anchipaka</keyword>. Speaking on the occasion, Sawant said the tourist footfall in the state will increase, once visitors are assured of their safety, and the introduction of the taxi app is a major step towards it. The app will also help bring down the travelling cost for tourists, who have been complaining about exorbitant taxi fares in the coastal state, he said. It is to be noted that popular cab hailing applications such as Uber and Ola do not operate in Goa. "Tourists were complaining that travelling to Goa from Mumbai by flight is cheaper than travelling to a hotel in the coastal state in a taxi," the chief minister said. Khaunte said "Goa Taxi App" has been operational at the Manohar International Airport (MIA), Mopa since the last six months after its soft launch. More than 500 tourist taxi operators have already joined the app and are satisfied with its performance, he said. Operators affiliated with the app will get the benefits of various schemes, financial help for marriage and scholarships for their children. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/what-is-navic-why-government-wants-to-make-mandatory-for-smartphones-explained/articleshow/103683244.cms" target="_blank"></a> <a href="https://www.businessinsider.in/science/space/news/what-is-navic-why-government-wants-to-make-mandatory-for-smartphones-explained/articleshow/103683244.cms" target="_blank">Explained: What is NavIC, developed by ISRO, that the government wants to make mandatory for smartphones</a><a href="https://www.businessinsider.in/tech/mobile/webstories/honor-90-vs-oneplus-11r-comparison-of-mobile-price-and-features-under-40000/slidelist/103687013.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/honor-90-vs-oneplus-11r-comparison-of-mobile-price-and-features-under-40000/slidelist/103687013.cms" target="_blank">Honor 90 vs OnePlus 11R – the mid-range smartphone to consider under ₹40,000</a><a href="https://www.businessinsider.in/stock-market/news/ems-ipo-allotment-how-to-check-allotment-status-and-gmp-value/articleshow/103668176.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ems-ipo-allotment-how-to-check-allotment-status-and-gmp-value/articleshow/103668176.cms" target="_blank">EMS IPO allotment – how to check allotment, GMP, listing date and more</a>

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PM Modi to inaugurate Mopa international airport in Goa

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Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for

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