Construction of Navi Mumbai airport project to commence in 2008

Navi Mumbai is to be developed under the Public-Private Partnership model, with CIDCO and Airports Authority of India (AAI) each holding a 13% of the project, while private companies will hold the remaining 74%. According to Civil Aviation Minister, Praful Patel, the bidding process for the Navi Mumbai airport development is likely to be finished by 2008. Siemens Ltd, Reliance Industries Ltd and Larsen & Toubro Ltd are among the private companies reportedly in discussions to form a consortium to bid for the proposed airport. Other interested parties include GMR Group, GVK Group, Tata Group, Dnata, Videocon Group and Changi Airports International (CAI). Anil Ambani’s Reliance ADAG is also reportedly seeking international airport developers to form a consortium to bid for the project, and Tata Group and CAI have formed a 51:49 JV for the airport. However, GVK Group, which operates Mumbai International Airport, holds the first right of refusal. 28-Nov-2007 (c) Centre for Asia Pacific Aviation: City and Industrial Development Corporation (CIDCO) confirmed (25-Nov-07) construction of the USD2.3 billion Navi Mumbai International Airport project will commence by the end of 2008.