NIIF to make investment of Rs 631 crore in GMR Group's Mopa airport in Goa

The investment will be made via compulsory convertible debentures in GMR Goa International Airport, the special purpose vehicle (SPV), which will operate the new airport in Goa

National Investment and Infrastructure Fund (NIIF) will invest Rs 631 crore in GMR group-run Mopa airport in Goa.
 

The investment was announced on Wednesday ahead of the airport inauguration by Prime Minister Narendra Modi on Sunday.

This is NIIF’s first investment in an airport asset in the country and also its first in Goa.
 

In 2019, it had unsuccessfully bid for development of three Airports Authority of India (AAI)-run airports under public-private partnership (PPP) model.
 

NIIF will invest in two other airports as a part of a financial partnership with the GMR group.
 

This includes the planned airport at Bhogapuram in