In January, GVK had signed Concession Agreement with City and Industrial Development Corporation (CIDCO) to create a Special Purpose Vehicle (SPV) for developing much delayed NMIA.
The GVK Power and Infrastructure Limited led Navi Mumbai International Airport Limited (NMIAL) announced the appointment of Zaha Hadid Architects (ZHA) to design the Navi Mumbai International Airport’s (NMIA’s) Terminal 1 and Air Traffic Control (ATC) Tower. NMIA’s project marks ZHA’s first major project in the Indian sub-continent.
The London based ZHA was selected on completion of a 12-week design competition shortlisted by GVK. ZHA has also designed Beijing’s new Daxing airport terminal of 7,00,000 sq.m. that is currently under construction.
Their other projects include the Olympic Aquatics Centre in London, the Heydar Aliyev Center in Baku, Azerbaijan, the MAXXI Contemporary Arts Centre in Rome, the Guangzhou Opera House in China, Al Wakrah Stadium for the 2022 World Cup in Qatar and many more.
Commenting on the development, Dr GVK Reddy, Founder and Chairman, GVK and Chairman of NMIAL said, “Our vision is to establish one more landmark airport that would exceed the benchmarks that GVK had set through MIAL whilst creating Terminal 2 at Mumbai airport. We are committed to bringing the best global practices from the industry to design, engineer and build this most awaited airport project in India and hence we decided to go with ZHA, a firm known for its path-breaking and remarkable architecture. It also has the expertise of delivering a world-class airport design through a highly professional team.”
In January, GVK had signed Concession Agreement with City and Industrial Development Corporation (CIDCO) to create a Special Purpose Vehicle (SPV) for developing much delayed NMIA.
The SPV of NMIAL has 74% stake by Mumbai International Airport Limited (MIAL) and the balance 26% is held by CIDCO. MIAL, a GVK subsidiary and operates Chhatrapati Shivaji International Airport in Mumbai. As per the terms of bidding and agreement, the concession period is 30 years, which can be extended by a decade.
At the moment, the company is still carrying out pre-development works to flatten the earth and diversion of a river. The rehabilitation and resettlement process for 3,500 residents is yet to be through.
The Greenfield international airport will be built on 1,160 hectares in phases and will eventually cater to 60 million passengers per year.
By 2030, an estimated 60 million passengers are expected to use the facility after it is completely developed.
Last year, during the bidding process four bidders namely, GMR Airports, MIAL, MIA Infrastructure Ltd (a joint venture of Tata Realty and VINCI Airport Concessions) and Voluptas Developers (a consortium of Hiranandani Group and Zurich Airports) were short-listed, but the last two withdrew from the fray leaving behind only GMR Airports and MIAL.
Later, in October, GVK was awarded the airport project as MIAL offered a higher annual gross revenue share of 12.60% as compared to 10.44% by GMR Airports.
The estimated cost has quadrupled to Rs16,000 crore since 1998 (Rs 4,766 crore) when it was first conceptualised.
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