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Stalled Navi Mumbai airport to take off with fresh fund infusion by Adani

Project has been under planning for past 15 years but failed to close financially as GVK group, from whom Adani is taking over, is neck deep in problems

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The GVK group won the rights to develop the new airport in February 2017.

4 min read Last Updated : Aug 25 2020 | 5:40 PM IST

With the Adani group set to take over Mumbai International Airport Ltd (MIAL) from the cash-strapped GVK group, bankers said the stalled Navi Mumbai airport project will finally be able to take off with infusion of fresh funds by Adani.

The project, which has been under planning for the past 15 years, failed to close financially as GVK group was buried neck deep in financial problems. With no construction activity at the project site, the project cost has gone up by Rs 5,000 crore, say bankers.

The GVK group had blamed lack of complete land acquisition by Cidco, the 26

Topics : Navi Mumbai Navi Mumbai international airport Adani Group GVK Group Mumbai airport CIDCO

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