The Airports Authority of India (AAI) is planning to invest in Mumbai International Airport (MIAL).
The company plans to pump in between Rs 250 crore and Rs 300 crore as an additional equity in MIAL. The equity is being increased due to project cost escalation. Currently, AAI has equity of about Rs 600 crore in MIAL. Due to delay in handing over certain areas for construction, the schedule of the project got extended by 17 months and with addition of certain new works the project cost was revised to Rs 12,380 crore. The nod for this proposal is expected to get soon in the AAI’s board meeting.
Mumbai International Airport is a Public-Private Partnership venture between GVK, AAI and Airport Company South Africa, which owns and operates 10 airports in the country. GVK holds 50.5 per cent stake the consortium, while AAI holds 26 per cent.
Related Links:
Project profile