Tuesday, December 31, 2013

GVK to exercise first right for Navi Mumbai airport

Hyderabad: GVK Power & Infrastructure Ltd is set to commission its new Mumbai International airport terminal early next month.
Developed with an outlay of Rs 12,360 crore, it can handle up to 40-45 million passengers per annum. It is likely to be inaugurated by Prime Minister Manmohan Singh on January 10. Initially, the international airport will be commissioned followed by the domestic terminal.
The diversified infrastructure company based in Hyderabad is also keen to exercise its Right of First Refusal (RoFR) when the new Navi Mumbai airport comes up for the bidding process and development.
If the bid is within 10 per cent of the best bid, GVK will be allowed to match that bid. Since the company is already engaged in managing airports at Bangalore, Mumbai and Indonesia, it plans to exercise this right.
30/12/13 V. Rishi Kumar/Business Line
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