Mumbai-based roads developer, IRB Infrastructure Developers is set to complete construction of its first greenfield airport in Sindhudurg district in Maharashtra at a cost of Rs 300 crore. The company plans to open the airport in September 2018. The airport is located 170 km north of Goa on the Konkan belt on the western ghats.

The cost of the project is lower than the Rs 520 crore estimate, calculated at the time of signing the concession agreement with the Maharashtra Industrial Development Corporation (MIDC) as IRB Infrastructure was able to save on construction costs.

The project is being constructed by the IRB’s wholly-owned project company--IRB Sindhudurg Airport. The airport is being construted on a design, build, finance, operate, transfer (DBFOT) basis under a 95 year concession with MIDC. The construction cost has been funded using transfers from IRB to the project company, which has yet to raise debt.

The airport is part of the government’s regional connectivity plan to develop smaller cities through air traffic. It is being built in Chipi-Parule in Sindhudurg district and will be the 14th airport in Maharashtra. It will potentially serve both domestic and international charter flights. It has a 2.5 km runway and will have a capacity to handle 800 passengers arrivals and departures during peak hours.