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Last-minute Bid by India-based GAL for Crete’s Kastelli Airport

Impression of Kastelli airport.

Impression of Kastelli airport.

GMR Airports Ltd (GAL) submitted a binding offer – jointly with Greek infrastructure company GEK Terna Group – last week, for the development, operation and management of the new Kastelli international airport in Heraklion, Crete.

India’s GMR Group said the project involves design, construction, financing, operation and maintenance of the airport for a concession period of 35 years. The 850-million-euro project is set to be operational in 2018 and expected to become Greece’s fourth-biggest airport in terms of traffic, replacing Crete’s outdated Nikos Kazantzakis airport in Heraklion.

“It is understood that this is the sole bid for this concession,” said GMR in a statement.

The bid is a welcome step in a project that has remained on the backburner for over eight years.

Meanwhile, according to sources cited by financial news site, consortium Ellaktor-Vinci, Greek-Chinese partnership China State Construction – Archirodon, Zurich Airport, METKA and J&P Avax did not submit offers having requested an extension of the bidding procedure.

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