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Navi Mumbai airport: Initial project cost pegged at Rs 9,990 cr

The initial project cost estimated for Mumbai?s second international airport at Navi Mumbai has been finalised at Rs 9,990 crore for 10 million passengers.

The initial project cost estimated for Mumbai?s second international airport at Navi Mumbai has been finalised at R9,990 crore for 10 million passengers, a senior civil aviation ministry official told FE on Thursday.

The RFQ submitted by City and Industrial Development Corporation (CIDCO) for the new airport, the building of which has long been riddled by problems in land acquisition, will be taken up for clearance by a steering committee of the civil aviation ministry on Friday.

?The initial project cost as per the RFQ is R9,990 crore, though this may escalate depending on the private developer who wins the bid,? the ministry official said.

The airport project, first envisioned 27 years ago but now expected to be completed by December 2017, was earlier estimated by a KPMG study to cost about R15,000 crore. However, the new official estimates are lower.

CIDCO is the nodal agency for the Maharashtra state govt for the project and will have an equity stake in the project.

?The civil aviation ministry has assured us that it will approve the RFQ in 3-4 days,? Sanjay Bhatia, vice-chairman and managing director of CIDCO recently said at the Express Group?s Idea Exchange programme. ?We will be inviting tenders as soon as we get the clearance,? he added.

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First published on: 20-12-2013 at 04:31 IST
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