GVK Power & Infrastructure’s subsidiary - Mumbai International Airport (MIAL), has won the bid for the much-delayed, discussed and debated Rs 16,000 crore airport project coming up in Navi Mumbai. The project will be carried out on public private partnership (PPP) basis, and CIDCO will incur pre-development work costs, which it will later recover from GVK.
The government had initially approved setting up the airport in 2007, but it ran into several environmental and land acquisition problems till the last stages of the final bid. Each stage has been delayed for months, pending clarity and clearances.
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.
