The Maharashtra government has decided to handover 250.0635 hectares of forest land in Raigad district to Cidco, for the development of Navi Mumbai International Airport (NMIA).
Of the total forest area, 108.607 hectare is under mangroves, while 141.4565 hectare is reserve forest land.
The revenue and forest department today issued a government resolution in this regard.
NMIA is touted to be one of the most ambitious project undertaken by the state government which is set to change the economy around Mumbai.
The new international airport will have better facilities and higher capacity to handle passenger as well as cargo traffic.
The airport and its allied facilities require 2,268 hectare of land out of which 1,160 hectares would be utilised for aeronautical purposes.
It is to be developed through public private partnership by way of setting up a Special Purpose Vehicle (SPV).
In the SPV, Cidco and its nominees would have 26 per cent stake.
Disclaimer: No Business Standard Journalist was involved in creation of this content
