MIAL bags Rs. 16,000-cr airport project

    MIAL Airport Project
    A consortium that currently operates the existing airport in Mumbai, has won the bid to build another one in the distant suburbs of Navi Mumbai Airport project marking a milestone in the much-delayed Rs. 16,000-cr project. The mega aviation venture has been aimed at decongesting the skies in the country's commercial capital. In a competitive race, Mumbai International Airport Ltd. (MIAL) outran GMR Infrastructure, offering a higher revenue share to the provincial government-owned city-builder, the City and Industrial Development Corporation (CIDCO). GMR offered a 10.44% share of revenue to CIDCO, while the GVK-led MIAL offered 12.60%, CIDCO released in a press statement. A report on qualified bids will be sent to the Project Monitoring and Implementation Committee, Ministry of Civil Aviation and then to state cabinet for its approval. Thereafter, the winning bidder will be given 180 days for achieving financial closure of the project, said chairman, CIDCO, Bhushan Gagrani.
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