The Rs 16,000-crore greenfield Navi Mumbai international airport project yesterday moved a step closer to reality a decade after it was cleared, with GVK Group bagging the financial bid to build and operate the facility.
GVK Group that runs the swanky MIAL (Mumbai international airport) pipped rival GMR Group to bag the contract for the proposed facility in Navi Mumbai which will ease the severe congestion at the Chhatrapati Shivaji International Airport.
The new airport was proposed in 1997 and received the government's nod in 2007. The project got delayed due land acquisition issues securing necessary government permissions including environmental clearance.
The first phase of the airport is expected to be operational in 2019 and will be able to handle 10 million passengers annually, CIDCO said in a statement.
The new airport is estimated to handle 60 million passengers by 2030 when it is expected to operate at full capacity.