With all the required permissions and most of the land acquisition in place, the pre-development work at the Navi Mumbai airport is slated to start from October...
With all the required permissions and most of the land acquisition in place, the pre-development work at the Navi Mumbai airport is slated to start from October, about three months before announcement of the partner selected for development of the country’s largest greenfield project.
The government-controlled City and Industrial Development Corporation (Cidco), the nodal agency for the international airport project, will hand over the supervision of the pre-development work to winning bidder by the end of the current calendar year.
Cidco wants a closer co-ordination with the partner to develop the airport, a senior official of the agency told FE.
“The winning bidder will be handed over the supervision charges as soon as it comes on board. This will be done to speed up the project and also to bring a greater co-ordination between the government agency and its partner,” the official said.
The pre-development work at the airport consists of diversion of Ulwe river to a canal, clearing, leveling and reclamation of marshy land, increasing the level of land from 0-2 m to 5 m above mean sea level, flattening of hillocks, and relocation of power lines.
However, there is no timeframe for the completion of the pre-development work.
“Cidco will hand over the supervision of the pre-development work or the role of project monitor to the winning bidder by December 2015/January 2016,” the official said.
“Though we expect to announce the winning bidder by December, the partner is expected to complete its financial closure (raise the required funds for the project) only by June-July 2016,” the official added.
Cidco, which holds 26% stake in the project, is currently examining the request for qualification (RFQ) bids from four parties — GVK, GMR, a joint venture (JV) between Zurich Airport and Hiranandani Group and a Tata Sons-led consortium.