For Navi Mumbai International Airport projectGVK Power & Infrastructure announced that Navi Mumbai International Airport, a Special Purpose Vehicle, which is a step down subsidiary of the company, has signed the concession agreement, shareholders agreement and state support agreement on 08 January 2018 with City and Industrial Development Corporation of Maharashtra (CIDCO), the nodal agency of Govt. of Maharashtra for implementation of the Navi Mumbai International Airport project.
Mumbai International Airport, subsidiary of the company holds 74% while CIDCO holds the balance 26% in the equity capital of Navi Mumbai International Airport. The initial concession period is 30 years from the appointed date which is extendable for further 10 years.
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