Videocon to bid for Navi Mumbai Airport

Videocon Industries is going to bid aggressively for the Navi Mumbai greenfield airport project, chairman Venugopal Dhoot said today.

The company is planning an investment of Rs 3,000 crore for developing the greenfield airport.

"We are looking forward to bid for the greenfield airport project coming up at Panvel. A special purpose vehicle (SPV) will be floated for the project," Dhoot said while speaking to reporters on the sidelines of an Assocham summit.

The airport development arm of the company would be called Videocon Aviation. Dhoot said Videocon would collaborate with a reputed European airport operator, which would be a 24% partner in the project.

The parent firm would contribute Rs 100 crore in the SPV, and the rest would come from financial institutions and foreign collaborators, Dhoot said.