GVK set to tie up with HDIL in airport project

GVK, the company managing Mumbai International Airport Pvt Ltd (MIAL), is close to finalising Housing Development and Infrastructure Ltd (HDIL) as its partner for the airport slum rehabilitation project.
The project envisages the rehabilitation of 85,000 families on 276 acres, or 1.2 crore sq ft, of land.
Both MIAL and HDIL are in the process of concluding an agreement, sources from Mumbai Metropolitan Region Development Authority (MMRDA) said.
MMRDA is the nodal agency for the survey and rehabilitation of slum- dwellers.
"They are negotiating on the structure of the deal and profit-sharing ratio," said sources close to HDIL.
An MIAL spokesperson said: "We have received Expression of Interest (EoI) from four developers. We are in talks and will be announcing the partner soon," he said.
HDIL managing director Sarang (Sunny) Wadhawan refused to comment.
26/09/07 Rajshri Mehta & Tinesh Bhasin/Sify

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Categories: Airports Sep 2007