Another setback for Navi Mum airport

Tuesday, 20 November 2012 - 9:39am IST
The airport has in-principle approval from the government for its development. The project is expected to cost Rs14,500 crore. The major hitch for its delay has been the land acquisition.

The construction of the Navi Mumbai airport could get further delayed as City and Industrial Development Corporation (CIDCO), the nodal agency for its development, has decided against the bidding process till the land acquisition process is complete. The cost of the project is likely to shoot up if it gets further delayed.

The Navi Mumbai airport, which is being developed  to ease the traffic congestion at the Mumbai airport,  has in-principle approval from the government for its development. The project is expected to cost Rs14,500 crore. The major hitch for its delay has been the land acquisition.

According to reports, the land-owners were earlier demanding around Rs20 crore  per acre, but later started asking for 22%of the returns after the implementation of the project.  

The sources said earlier there were plans to initiate the bidding parallel to the land acquisition process, so that the project could get compeleted before the 2016 deadline.  According to an estimate prepared by the CIDCO, the project once completed will be able to handle about 25 million passengers by the year 2020.

GVK, the operator of  Mumbai airport, has been given the assurance by the government for first right of refusal once the bidding
for Navi Mumbai airport happens.


Jump to comments

Around the web