Sunday, September 24, 2017

First phase of Navi Mumbai international airport to begin by 2019 end: CM

Hyderabad: Stating that the first phase of the much-delayed Navi Mumbai airport project will "commence" by December 2019, Maharashtra Chief Minister Devendra Fadnavis today said his government would issue a letter of intent (LoI) as awarding the contract is a "matter of time" now.

He also said the pre-developmental works for the ambitious project will be completed by May next year.


The CM's statement assumes significance as award of the LoI is considered as an important step in taking the project forward, which is dogged by inordinate delays since its conception in 1997.

Infrastructure major GVK group had bagged the financial bid to build and operate the second international airport in the Mumbai metropolitan region at an investment of Rs 16,000 crore earlier this year, beating rival GMR group.

However, the project couldn't make any progress as the state government has not yet approved and finalised the finance deal won by the GVK. Once the government gives its nod, a letter of award will be given to the contractor, after which a special purpose vehicle (SPV) can be set up to execute the project.

"There are two phases of of Navi Mumbai airport. One phase is the pre-works in which you have to level the land, cut a hill and you have to change the course of the river. So these are the predevelopment works which we have awarded the contract and they have already started the work.

"So possibly the site with the pre-development works will be ready by May next year. The concessionaire for (the airport) is also nearly shortlisted. It is a matter of time that we will award the contract. We will issue the letter of intent to the concessionaire and what is intended is that the first phase of the Navi Mumbai airport should commence by December 2019," Fadnavis told reporters on the sidelines of "India Leadership Summit" organised by the Indian School of Business (ISB) here.
23/09/17 PTI/Business Standard

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