Thursday, August 10, 2017

6 months on, govt yet to OK Navi Mumbai airport contract

Navi Mumbai: Almost six months after Cidco, nodal authority for the Navi Mumbai airport project, closed the finance deal with GVK-led Mumbai International Airport Ltd (MIAL), the state government is yet to approve and finalise it. Once the government give its nod, a letter of award will be given to the contractor, only after which can a special purpose vehicle (SPV) be formed to execute the project, sources say.
When the GVK-led Mumbai international airport limited (MIAL) won the bid for the project on February 13, Cidco had said the state government's approval was merely a formality that would happen soon.
"We have no idea what could be the reason," a Cidco official said on Wednesday, adding, "We communicated to the government a fortnight ago about the approval of the project.'' Cidco has asked for a meeting of the chief secretary-led Project Management and Implementation Committee so that the terms and conditions, rates of revenue-sharing with GVK-led MIAL and other aspects of the deal can be approved and forwarded to the state cabinet.
Cidco MD Bhushan Gagrani had tried to speed up the approval in March. Government sources had then attributed the delay to a change of chief secretary and the model code of conduct for the zilla parishad election.
10/08/17 Times of India

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