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    GVK sets to get Rs. 16,000-cr airport project

    GVK Power & Infrastructure
    GVK Power & Infrastructure is all set to bag the mandate for the mega Rs.16,000 crore Navi Mumbai green field airport project with the Project Monitoring Committee approving its financial bid and now awaits state government approval. It may be recalled that the GVK-led Mumbai International Airport Ltd. had developed the existing airport in Mumbai. As per the laid down norms, the committee will recommend the GVK’s bid to the Maharashtra government and the Cabinet will provide its stamp of final approval, sources said that the Letter of Intent, which the GVK management is anxiously waiting to begin works, will be issued by the City and Industrial Development Corporation. Significantly, couple of major pre-airport development works of over Rs.2,000 crore have already been awarded. This includes site leveling, removal of a major rock, reclamation of land, changing water course and rehabilitation of people living in three villages. The phase one of the project is expected to be ready within 36 months of commencement of work.
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