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The Maharashtra Cabinet on Tuesday has given a formal approval to Mumbai International Airport Pvt. Ltd. (MIAL) of the GVK Group for the construction of the Navi Mumbai international airport project.
MIAL is a joint venture between the GVK Group and Airports Authority of India.
A press statement issued by the Chief Minister of Maharashtra's office said that the decision will further propel the project, which is expected to be completed by December 2019. The Greenfield project would be spread over 1,160 hectares and it would be built on PPP basis.
Traffic handlingBy 2034, Mumbai Metropolitan Region (MMR) will have a traffic of 100 Million Passenger Per Annum (MPPA). Forecasts suggest that passenger traffic for MMR is set to cross 45 MPPA by fiscal 2018. Mumbai airport has already handled 42 million passengers in fiscal 2016. The new airport at Navi Mumbai will take care of the additional traffic.
The statement said that four applicants had shown interests in building the airport but MIAL won the final bid based on security considerations and agreeing to share 12.5 per cent of the total project revenue to CIDCO.
The Navi Mumbai site was chosen for a new airport in July 2007, when the project was approved by the Union Ministry of Civil Aviation. This was followed three years later with environmental clearances from the Union Ministry of Forest and Environment in November 2010. However, the project had to face numerous delays due to environmental and land acquisition problems.
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