Initial Bids for Navi Mumbai International Airport Set for January

The initial bids for the development of the Navi Mumbai international airport is going to be opened in the second week of January where big players like GMR, GVK, Hiranandani groups and Tata will be in the race. The airport which is proposed – by City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) – to be developed through public private partnership will cut down the traffic of the existing international aerodrome.

The airport will be spread over the area of 2,268 hectares where 1,160 hectares area would be utilised for aeronautical purposes. The project will be commenced by setting up a Special Purpose Vehicle (SPV). Reportedly, CIDCO & its nominees would have 26 per cent of stake in the SPV.

“The total project cost of the Navi Mumbai International Airport project, including cost of the pre-development works is estimated at Rs 14,574 crore (FY 13 prices),” reported in the CIDCO website.

Source: Financial Express

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