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Private Sector | Maharashtra - India | PID: 173442
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Prime Minister Narendra Modi laid the foundation stone for Mumbai’s second airport project, ‘Navi Mumbai International Airport’ on 18 February 2018
The project worth Rs 16,000 crore will be an alternative to the existing Mumbai airport and will spread over 1,160 ha of land
On 8 January 2018, GVK Power and Infrastructure (GVKPIL) inked concession agreement for the airport project.It is being implemented through a a special purpose vehicle (SPV), the Navi Mumbai International Airport (NMIAL).The GVKPIL through its subsidiary, the Mumbai International Airport (MIAL) holds 74 percent equity shares of NMIAL while CIDCO holds the remaining 26 percent
The initial concession period is 30 years from the appointed date which is extendable for a further 10 years
The master plan includes two parallel runways of 3.7 km length each and a centrally located terminal building for domestic and international flights. It will have a parking capacity for 104 aircraft. The airport will also have 81 contact gates and 29 remote parking stands
In April 2017, the Ministry of Environment, Forest and Climate Change (MoEF&CC) accorded Stage-II forest clearance for the project. An approval from the Maharashtra state cabinet was accorded in October 2017
| Updated on: 19 - Feb - 2018
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