Navi Mumbai: The cost of the Navi Mumbai international airport (NMIA) project has escalated by around Rs 400 crore due to various delays.
With land acquisition under way, it, however, got another boost on Thursday, as Cidco floated an e-tender to invite bids for developing land of the core aeronautical area. The work involves various phases like blasting, cutting and leveling of Ulwe hill for construction of parallel runways.
The cost of land development increased from Rs 2,300 crore to Rs 2,700 crore. The amount will be spent on developing the 1,160 hectares. Even the City and Industrial Development Corporation's (Cidco) share of the cost has jumped from Rs 1,400 crore to Rs 1,715 crore. The strategic partner's share, that was pegged at Rs 900 crore, has increased to Rs 1,000 crore, sources said.
Cidco's money will be given as a soft loan to the partner, who will start repaying the amount from the 11th year. Cidco will form a company with the partner, with 26% equity participation.
21/08/14 Sanjay Banerjee/Times of India
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With land acquisition under way, it, however, got another boost on Thursday, as Cidco floated an e-tender to invite bids for developing land of the core aeronautical area. The work involves various phases like blasting, cutting and leveling of Ulwe hill for construction of parallel runways.
The cost of land development increased from Rs 2,300 crore to Rs 2,700 crore. The amount will be spent on developing the 1,160 hectares. Even the City and Industrial Development Corporation's (Cidco) share of the cost has jumped from Rs 1,400 crore to Rs 1,715 crore. The strategic partner's share, that was pegged at Rs 900 crore, has increased to Rs 1,000 crore, sources said.
Cidco's money will be given as a soft loan to the partner, who will start repaying the amount from the 11th year. Cidco will form a company with the partner, with 26% equity participation.
21/08/14 Sanjay Banerjee/Times of India
