GVK lone player for Navi Mumbai Airport
GVK lone player for Navi Mumbai Airport

GVK lone player for Navi Mumbai Airport

Three of the four shortlisted companies for the Navi Mumbai airport have expressed their decision to pull out of the race. The reasons stated are long-unresolved issues such as incomplete resettlement of families from the area, zero pre-development work and issues with the bid document. 42 months' time to complete the project is too short, considering the conditions.

GMR Infrastructure, Tata Realty & Infrastructure and the Hiranandani Group have said that they won't be able to put in financial bids. GVK Power & Infrastructure-led Mumbai International Airport (MIAL), the operator of Mumbai airport, is the only qualified bidder.

'Now, instead of the 26 per cent equity participation, Zurich Airports wants 10 per cent participation. We have written to CIDCO for the same, but no approval has come yet. Our bid proposal is ready, but under the current circumstances, we won't be able to participate. There are many other issues. For instance, the guidance cost for some aspects of the project has been given keeping the Kochi airport in mind.'said Hiranandani Group

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