GVK Power & Infrastructure (GVKPIL) has signed the concession agreement for the Navi Mumbai International Airport Project. The concession Agreement has been signed through the creation of a Special Purpose Vehicle viz., Navi Mumbai International Airport (NMIAL) with CIDCO, the nodal authority of the Government of Maharashtra for implementation of this project.
GVKPIL through its subsidiary, Mumbai International Airport (MIAL) holds 74% equity shares of NMIAL while CIDCO holds the balance 26%. The initial concession period is 30 years from the appointed date which is extendable for a further 10 years.
GVKPIL 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.
