Navi Mumbai International Airport: As soon as PM Modi completes his middle east tour, he laid the Navi Mumbai International airport foundation stone. He performed the ground-breaking ceremony and the inauguration electronically in the presence of Maharashtra Governor C. V. Rao, Chief Minister Devendra Fadnavis, Union Ministers Nitin Gadkari, Ashok Gajapathi Raju, Ramdas Athawale and state ministers.
Prime Minister Narendra Modi on Sunday laid the foundation stone of the Rs 16,000-crore Navi Mumbai International Airport. The Navi Mumbai International Airport will be the second international aviation hub for the financial capital, presently served by the Chhatrapati Shivaji International Airport that has almost reached saturation point. So, this will be used to control some airlines traffic to Mumbai.
According to Business Standard reports, The new airport will be constructed by GVK Power and Infrastructure Ltd (GVKPIL) as per a concession agreement signed on January 8, with the City and Industrial Development Corporation (CIDCO), the nodal authority of Maharashtra to oversee the project implementation.
The agreement has created a special purpose vehicle – Navi Mumbai International Airport Pvt. Ltd (NMIAL), in which the GVKPIL, through its subsidiary, Mumbai International Pvt Ltd, holds 74 percent equity, while the rest is held by CIDCO.
The initial concession period is 30 years, from the appointed date, which is extendable by another 10 years, for the project in which GVKPIL was declared the successful bidder in February 2017. The NMIAL, a greenfield airport, will be constructed in the PPP mode on 1,160 hectares on the mainland in Navi Mumbai, across the Mumbai harbour, with the advantage of the upcoming Mumbai Trans Harbour Link, a Special Economic Zone and other major infrastructure developments coming up.
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