GVK Power & Infrastructure’s subsidiary - Mumbai International Airport (MIAL), has settled all issues relating to the Slum Rehabilitation Agreement with Housing Development & Infrastructure (HDIL), paving the way for its implementation.
MIAL had entered into a Slum Rehabilitation Agreement with HDIL on October 15, 2007, for implementation of a slum rehabilitation project at Chhatrapathi Shivaji International Airport. However, due to disputes between MIAL and HDIL, the agreement was terminated by MIAL on February 6, 2013. Both the parties, in their effort to put an end to the dispute, arrived at a settlement agreement, which was inked on September 8, wherein all claims and counter-claims have been withdrawn.
GVK Power and Infrastructure is an infrastructure development company. It engages in infrastructure and urban infrastructure projects. The company provides operation and maintenance services, manpower and consultancy services, and incidental services to owners of power plants, airports and infrastructure companies.
