SC lifts Environment Clearance suspension of GMR Goa airport

The Supreme Court of India has lifted the suspension of Environment Clearance (EC) imposed on the construction of a new greenfield airport at Mopa (Goa) of GMR Goa International Airport Limited (GGIAL), which is a subsidiary of GMR Infrastructure Limited.

This in effect will result in resumption of the construction activities at the project site to build a greenfield international airport at Mopa (Goa) by GGIAL in compliance with the conditions imposed under various environment clearances and adoption of zero carbon program voluntarily assured by GMR Group, to be overseen by National Environmental Engineering Research Institute (NEERI).

This is a leap of faith reposed on the GMR Group which has always been dedicated towards maintaining the balance of sustainable development. The commitment of GMR Group to ensure compliance of best practices in maintaining and developing world class airports has been reaffirmed.

The new airport at Mopa is expected to enhance tourism and employment opportunities in Goa and open up new avenues for boosting the economy of the state.

Recently, the company has decided to increase the transaction size by agreeing to divest 49 per cent in GMR Airports Limited (vs previously agreed 44.44 per cent) to TRIL Urban Transport Private Limited (part of TATA Group).

On Friday, the stock of GMR Infra opened at Rs 24.10, up by 1.05 per cent from the previous close of Rs 23.85.