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Civil aviation ministry approves ”share till” model for Navi Mumbai airport

The state-run City and Industrial Development Corporation (CIDCO) has crossed yet another hurdle as the union ministry of civil aviation today cleared its plea for ”share till” approach for the Navi Mumbai international airport on the lines of Delhi and Mumbai airports. This was one of the issues on which bidders had sought clarification from CIDCO. The state chief minister Devendra Fadnavis about 10 days ago had personally spoken to the union minister of civil aviation Ashok Gajapathi Raju seeking an early approval of his ministry in this regard.

CIDCO vice chairman and managing director Sanjay Bhatia told Business Standard ”Chief Minister Devendra Fadnavis and the civil aviation ministry informed me about the approval for the ”share till” approach. ”Share till” means basically part of the revenue generated from non aeronautical facilities will also be used for compensating the airport passengers. With this, the project will become competitive. CIDCO now hopes to get competitive bids.”

Bhatia said that CIDCO had extended deadline for the submission of request for qualification (RFQ) to July 30, September 2 and October 31 and December 10. RFQ was issued on February 5. ”The time has been further extended up to third week of January. No further extension will be given,” he added.

TATA Realty and Infrastructure, Zurich Airport, Ferrovial, MIAL, SREI Infrastructure, Samsung C&T, IL&FS, GMR Group, Shakat Aviation, Walnut Aviation, ESSEL Infrastructure and Vinci Concessions India had shown interest in the project development.

CIDCO is the nodal agency for the Navi Mumbai airport project which needs 2,268 hectares, out of which about 1,160 hectares will be used for aeronautical purposes. Further, CIDCO was in the midst of acquisition of over 600 hectare of private land for the airport project.

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