Feb 14, 2017: After the bid process being deferred twice, GVK-led Mumbai International Airport Ltd (MIAL) has finally won the bid to build International airport at Navi Mumbai. GVK Power & Infrastructure, which runs the Mumbai and Bengaluru airports, has won the right to build Mumbai’s second airport in Navi Mumbai, beating rival GMR Infrastructure. GVK and GMR were the only bidders in the race for the right to build the Rs 16,000 crore Navi Mumbai airport project that will reduce the burden on Mumbai’s congested airport.
According to reports, GVK offered to share 12.60 percent of the revenue of the new airport with City and Industrial Development Corporation (CIDCO). That was higher than the 10.44 percent offered by GMR Infrastructure, which runs the Delhi and Hyderabad airports.
According to CIDCO, the first phase of the airport is expected to be operational in 2019. The airport will be able to handle 10 million passengers annually. The new airport is expected to handle 60 million passengers by 2030 when it is expected operate at full capacity.
First proposed in 1997, the new airport was approved by the government in 2007. However, it was delayed due to problems in buying land and in gaining necessary government permissions such as environmental clearance.
Besides GVK and GMR, Tata Realty and Infrastructure and Hiranandani Developers had cleared the technical criteria required to submit a financial bid, but did not do so.