Mumbai: The State Cabinet on Tuesday approved the decision to allow the GVK-led Mumbai International Airport Limited (MIAL), which owns and operates the Mumbai airport, to construct the greenfield Navi Mumbai International Airport.
Though four bidders — GMR Airports Ltd., MIAL, MIA Infrastructure Ltd. (a joint venture of Tata Realty and VINCI Airport Concessions) and Voluptas Developers Pvt Ltd. (a consortium of Hiranandani Group and Zurich Airports) — were pre-qualified in the bidding stage since in May 2015, only two of them submitted financial bids after the process started on February 5 this year.
The bids were opened on February 15, and MIAL was the highest bidder as it offered 12.6% share of the annual gross revenue of the project. However, the selection required approval from the State Cabinet.
With Cabinet approval, the work is now expected to gain momentum.
