The Navi Mumbai airport PPP has taken a huge step forward with the request for proposals (RFQ) documents set to be approved by the civil aviation ministry today.
The 2,268 acres scheme for a new 10 million passenger airport has been plagued with land and planning disputes since it was announced at the end of 2010. The original deadline saw the airport opening in 2014 but the timetable has slipped to the end of 2017.
Of the total land area, nearly 1,100 acres will be kept for aeronautical use while the rest has been reserved for commercial development. The airport will be developed as a PPP, in which 74% equity will be held by a private operator, 13% by Airports Authority of India and 13% by the state government through its arm Cidco (City and Industrial Development Corporation). Mumbai's Chhattrapati Shivaji International airport operator GVK is expected to get the right of first refusal.
The initial project cost is estimated at $1.67bn but the aviation ministry have admitted this could escalate during procurement.