Pre-development work for Navi Mumbai airport may start in March

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Published: December 25, 2015 1:30:36 AM

The City and Industrial Development Corporation (CIDCO) of Maharashtra is expected to start the pre-development work for the construction of Navi Mumbai airport from March.

The City and Industrial Development Corporation (CIDCO) of Maharashtra is expected to start the pre-development work for the construction of Navi Mumbai airport from March. The civil aviation ministry is also expected to give clearance to the request for proposals approved by a joint committee, by December end or early January, according to a senior official.

The official added that beacuse of the congestion in the existing domestic airport in Mumbai, the decision can be taken to start operations at the Navi Mumbai airport before 2019. The Navi Mumbai airport is scheduled to start operations with a single runway which will be capable of handling 10 million passengers by then.

The city planning organisation is expected to spend

`3,000 crore for the pre-development work which includes flattening the hillocks and diverting the Ulwe river. The official mentioned that CIDCO will hand over the pre-development work to one of the four shortlisted consortiums that will form a special purpose vehicle to construct and operate the new airport.

A joint committee which had representation from state government and the ministry of civil aviation, received nine request for proposals (RFPS) of which GVK, GMR, Hiranandani Developers with Zurich airport and Tata Realty with MIA infrastructure of France was selected.

“We will receive the final bid in May and the final bidder will be selected in June. The ministry has sought comments from industry experts regarding RFPs and a decision is expected soon. CIDCO has also started the rehabilitation work for the displaced villagers,” an official said.

The total development cost of the airport is as much as `16,000 crore and a special purpose vehicle will be created in which CIDCO will own 26% stake. Of the four shortlisted consortiums, the one who will give the largest share of the gross revenue earned from the airport to CIDCO will ultimately emerge the partner.

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