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Financial bids for Navi Mumbai airport by October

Cidco is in possession for 80 per cent of the land

Sanjay Jog & Aneesh Phadnis  |  Mumbai 

3 qualified bidders for Navi Mumbai airport to submit RFP by early October

Three qualified bidders — GMR, GVK and Tata Realty-MIA Infra — will have to submit financial bids for the Navi Mumbai international airport by October. The City and Industrial Development Corporation (Cidco), nodal agency for the Rs 16,000 crore airport project, expects to award the contract by the end of this year.

“The state Cabinet on Monday gave its assent for the issuance of request for proposal (RFP) to GVK, GMR and a consortium of Tata Realty and MIA Infra. These three qualified bidders are expected to submit RFP by September end or early October,” said Sanjay Bhatia, vice-chairman and managing director of Cidco. The corporation already has 80 per cent of the land in its possession.

Bhatia said the state Cabinet’s approval was necessary after the Union home ministry in January rejected security clearance to the fourth short-listed bidder — a consortium of Hiranandani Developers and Zurich Airport.

The first phase of the airport, with capacity of 10 million passengers, is slated to be ready by Q4, FY20. As soon as a particular percentage of traffic growth is achieved for three consecutive months, the developer will have to start work on phase two, to increase capacity to 25 million passengers.

Nearly 95 per cent of the land has been acquired through consent.

First Published: Tue, April 12 2016. 23:59 IST