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GVK Power & Infrastructure announces signing of concession agreement with CIDCO

Capital Market 

For Navi International Airport project

& Infrastructure announced that Navi 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 of (CIDCO), the nodal agency of Govt. of for implementation of the Navi International Airport project.

Mumbai International Airport, subsidiary of the company holds 74% while CIDCO holds the balance 26% in the equity capital of International Airport. The initial concession period is 30 years from the appointed date which is extendable for further 10 years.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 20:23 IST