Mumbai: The government-controlled City and Industrial Development Corporation (Cidco), the nodal agency responsible for the development of the Navi Mumbai International Airport, will incur a R2,700-crore investment on pre-development work at the airport that is expected to start from October.
“Cidco has already floated an e-tender to award the pre-development work. It will also give a soft loan of R2,700 crore to the winner of the process, which has to be duly returned to the nodal agency after 10 years without any interest costs,” said a senior Cidco official.
The pre-development work at the Navi Mumbai International Airport consists of diversion of the Ulwe river to a canal, clearing, levelling and reclamation of marshy land, increasing the level of land from 0-2 metres to 5 metres above mean sea level, flattening of hillocks, and relocation of power lines.
06/08/15 Rhik Kundu/Financial Express
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“Cidco has already floated an e-tender to award the pre-development work. It will also give a soft loan of R2,700 crore to the winner of the process, which has to be duly returned to the nodal agency after 10 years without any interest costs,” said a senior Cidco official.
The pre-development work at the Navi Mumbai International Airport consists of diversion of the Ulwe river to a canal, clearing, levelling and reclamation of marshy land, increasing the level of land from 0-2 metres to 5 metres above mean sea level, flattening of hillocks, and relocation of power lines.
06/08/15 Rhik Kundu/Financial Express
