Minister of State for Civil Aviation Shri Jayant Sinha has conveyed that GMR Goa International Airport Limited, an SPV formed by the GMR Airports Limited has signed Concession Agreement with Government of Goa for development and operation of Greenfield International Airport at Mopa on 8th November 2016. The GMR Airports Limited has won the project through international competitive bidding process with highest revenue share of 36.99%. The project will operate in hybrid till model with 30% cross subsidy, and is to be implemented in four phases. The total estimated cost of Phase I of the project is Rs, 3,100 crores.