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India : MIAL likely to bag the contract to develop the city's second airport
Publish Date : 07-Feb-2014
Mumbai International Airport Limited (MIAL) would likely receive a contract to develop the city's second airport, in Navi Mumbai. Recently, MIAL completed with the development of a state-of-the-art terminal—T2 in the city.
In the tendering procedure, MIAL will get to exercise the 'right of first refusal' option whereby it might bag the contract even if its bid is not less than 10% of the highest bidder.
Bidders having a minimum net worth of Rs 2,375 crore and have developed Rs 9,500 crore projects will get to bid for the greenfield international airport project, expected to be operational by 2018.
On Wednesday, Cidco, the nodal agency for the airport, floated tenders for the project. Cidco on its website said that, "In the event that MIAL matches the highest ranked bid, it shall be deemed to be the highest bidder and the project shall be awarded to MIAL."
Chief minister Prithviraj Chavan expects the first stage of bidding process to get over within next 90 days after which the final competition to bag the project would begin.
Cidco MD Sanjay Bhatia said, "We hope to finish the first phase with one runway by 2018."
Bhatia added that, already work to develop a township for resettlement of project-affected people has begun. He said, "During the bidding process over the next year, a small amount of land which had remained to be acquired would come to Cidco."
The airport project totally needs 2,268 hectares of land, out of which 1,572 hectares are already in Cidco's possession.
Cost of the project which was earlier in 1998 expected to be Rs 4,766 crore, has however increased to around Rs 14,573 crore.
