GMR Airports Limited has won the bid for the development, operations and management of the Nagpur International Airport Project on a PPP basis. The letter of award is likely to be issued soon. The project involves the upgradation, modernisation, operation and maintenance of Nagpur airport for a period of 30 years. A special purpose vehicle (SPV) will be incorporated for taking up construction work on the airport in a phased manner. MIHAN India Limited, the nodal agency for the airport, will have an equity stake of 26 per cent in the SPV.