Bids for Navi Mumbai airport to start early January

After much delay, the initial bids for development of the Navi Mumbai international airport is likely to be opened early next month, with leading players, including GMR and GVK expected to be in the fray.

The Navi Mumbai airport, which would help in easing the congestion at the existing international aerodrome in Mumbai, is to be developed through a public-private partnership.

City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) proposed the development of the airport.

Sources said the bids received following the issuance of RFQ (Request For Qualification) are likely to be opened in the second week of January next year.

A clutch of entities, including GMR, GVK and Hiranandani groups as well as Tatas, are believed to have put in their bids for the project, sources added.

In February this year, CIDCO invited RFQ and the deadline for submissions was extended quite a few times. It was first extended to July 30, then September 2 and October 31. Finally, after another extension, the deadline ended on December 10.

The project requires around 2,268 hectares out of which 1,160 hectares would be utilised for aeronautical purposes.

It is to be developed through a public-private partnership by way of setting up a Special Purpose Vehicle (SPV). In the SPV, CIDCO and its nominees would have 26 per cent stake.

"The total project cost of the Navi Mumbai International Airport project, including cost of the pre-development works is estimated at Rs 14,574 crore (FY 13 prices).

"The cost of pre-development works is estimated at Rs 2,358 crore (comprising of part airport site development and shifting of extra high voltage transmission lines)," as per CIDCO website.