 "Navi Mumbai International Airport")
Maharashtra Cabinet on Tuesday approved Mumbai International Airport’s (MIAL’s) bid to construct the Rs 16,000 crore Navi Mumbai airport.
With the Cabinet giving its go ahead, the formal letter of award will be issued to MIAL. This will be followed by signing of a concession agreement between a MIAL-led special purpose vehicle and the City and Industrial Development Corporation (Cidco) in next two months and financial closure for the project six months after the signing of the agreement.
The project will be developed on 74:26 per cent partnership between MIAL and Cidco and airport’s phase 1 with annual handling capacity
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