The Maharashtra government, on October 24, 2017, approved the selection of the GVK-led Mumbai International Airports Ltd (MIAL) for developing the Navi Mumbai International Airport, on a public-private partnership basis. The decision was taken at a state cabinet meeting.
A statement issued by the Chief Minister’s Office (CMO), said the project will be executed by December 2019. The City and Industrial Development Corporation (CIDCO) is working as the nodal agency, for the airport’s development. The statement said GMR Airports, Hiranandani Group, MIA Infrastructure and MIAL had taken part in the bidding process for the project.
The project management implementation committee (PMIC), headed by the chief secretary, then selected MIAL as the highest bidder. Subsequently, the cabinet endorsed the PMIC’s selection. The financial bid offered by MIAL to CIDCO was 12.6 per cent of the annual gross revenue for the project.