Work on City & Industrial
Development Corporation of Maharashtra's airport project in Navi Mumbai is
expected to begin by January 2007, after some issues relating to land
acquisition are sorted out and clearance of the Union Cabinet is obtained.
The cost of the project, which is
being developed through the public-private partnership route, is estimated to be
Rs.3,200 crore-4,000 crore. The private sector will hold 74 per cent equity in
the proposed project and the Maharashtra government and Airports Authority of
India are expected to pick up a 13 per cent stake each in the project.
The state government is likely to
incur Rs.12-13 crore towards detailed reports that will be undertaken before the
project takes off apart from contributing land for the airport. The proposed
airport to be spread over1,610 ha of land of which 470 hectares have been
earmarked for city side development. Almost 74 per cent of the land required for
the airport has been identified and acquired. The airport will also have a
terminal area of 2.5 lakh sq.mt and a cargo area of 1lakh sq.mt. The new airport
will be able to handle 50-55 million passengers annually.
In keeping with international
standards, the airport, which is 35 km from the existing one, will have two
parallel runways. Initially the project will be given to the successful bidder
for a period of 30 years that could be extended by another 30 years. Phase I of
the airport is expected to be ready by 2012.
approves second airport at Mumbai (20-Aug-06)