Friday, March 24, 2017

State yet to approve Rs 16,000cr airport deal

Navi Mumbai: Though over a month has passed since Cidco closed the finance proposal for the Rs 16,000-crore greenfield Navi Mumbai International Airport, the state government is yet to approve the deal and finalize it.
Government sources attributed the delay to a change of chief secretary midway and model code of conduct for the zilla parishad polls.
Cidco has asked for convening the chief secretary-led Project Management and Implementation Committee (PMIC) meeting, so that terms and conditions, rates of revenue-sharing with GVK-led Mumbai Internationl Airport Ltd (MIAL) and other aspects of the deal can be approved and forwarded to the state cabinet for nod for finalizing the deal.
Cidco can issue the letter of allotment only after the cabinet nod, which will be followed by signing of agreement with its strategic partner.
Bhushan Gagrani, Cidco MD, sought a meeting with the chief secretary on Tuesday for convening the PMIC meeting. The PMIC includes the joint secretary of civil aviation ministry and representative of Airports Authority of India (AAI).
23/03/17 Times of India