MIAL to lead Navi Mumbai airport project

The state cabinet approved the decision to give the Navi Mumbai International Airport project work to Mumbai International Airport Limited (MIAL) on Tuesday.

“MIAL was the highest bidder among the other participated bidders — GMR Airport and Hiranandani Group. Now, the work on Navi Mumbai International Airport will pick up speed and will get completed by 2019,” stated the cabinet note.

MIAL submitted its bid in February with an offer of 12.6 per cent revenue to CIDCO, which is the nodal authority for the Navi Mumbai International Airport.

Bhushan Gagrani, MD at CIDCO said that after the cabinet approval, they will issue a letter of acceptance to the MIAL. “The MIAL has to submit the financial closure – bank guarantee — in the next six months. Once it is done, we will hand over the site to MIAL for construction work. By 2019, the major basic infrastructure including the first runway will be ready. We are working hard to meet the deadline,” Gagrani said.

“The pre-development work has already begun in some parts of the proposed airport. We are facing a major opposition from the local farmers who are demanding their right. They want 22.5 per cent development land, and other promised facilities, then …read more