Tuesday, March 21, 2017

Cidco expedites state cabinet nod to new international airport

Mumbai: More than a month has passed by since February 13 when Cidco closed the finance proposal for the Rs 16000 crore greenfield Navi Mumbai international airport, but the state government was yet to approve it and stamp the deal as having been finalised.
Government source attributed the delay to change of chief secretary mid- way and model code of conduct for ZP election.
Cidco has asked for convening the chief Secretary -led project management and implementation committee ( PMIC) meeting so that the terms and conditions, rates of revenue sharing with the strategic partner ( GVK led MIAL ) and other aspects of the finance deal can be approved and forwarded to the state cabinet for the final nod of finalisation of the deal.
Cidco , the nodal authority, can issue the letter of allotment only after the cabinet nod which will be followed with signing the agreement papers
21/03/17 Sanjay Banerjee/Times of India