LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

'Navi Mumbai Airport's phase I construction may cost 50% more'

The construction cost of phase I of Navi Mumbai Airport is expected to go up by nearly 50 per cent to Rs 13,562 crore from earlier projected cost of Rs 9,600 crore.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
'Navi Mumbai Airport's phase I construction may cost 50% more'
GVK group spokesperson was not available for a comment when contacted. Image source: Reuters
Written By: PTI
Updated: Sat, Jul 14, 2018
11:38 am
Mumbai, PTI
RELATED NEWS
L&T Construction bags contract for Navi Mumbai Airport L&T Construction bags contract for Navi Mumbai Airport
Navi Mumbai airport to be operationalised by 2021-22: Minister Navi Mumbai airport to be operationalised by 2021-22: Minister
'New tariff model risky for greenfield airport developers' 'New tariff model risky for greenfield airport developers'
Virgin Hyperloop One signs pact with India for broad hyperloop framework Virgin Hyperloop One signs pact with India for broad hyperloop framework
GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid

The construction cost of phase I of Navi Mumbai Airport is expected to go up by nearly 50 per cent to Rs 13,562 crore from earlier projected cost of Rs 9,600 crore.

In 2013, then Maharashtra chief minister Prithviraj Chavan had said that phase I of the Navi Mumbai International Airport was expected to be completed at a projected cost of Rs 9,600 crore.

Navi Mumbai International Airport "Phase I is expected to be implemented at a cost of Rs 13,562 crore, and will have a capacity of one crore passengers per annum," ratings agency Crisil said in a report.

GVK group spokesperson was not available for a comment when contacted.

The second airport in the Mumbai Metropolitan Region is planned for a minimum capacity of 60 million passengers per annum (MPPA), with the first phase capacity pegged at 10 million passengers per annum.

GVK, which is developing the Navi Mumbai Airport, had announced last week it has achieved financial closure for the construction of the first phase of the airport.

The infrastructure major had bagged the financial bid to build and operate the second international airport in the Mumbai Metropolitan Region Navi Mumbai at an investment of Rs 16,000 crores this year, beating rival GMR Group.

WATCH THIS ZEE BUSINESS VIDEO HERE

GVK Power and Infrastructure (GVKPIL), a part of the GVK group, had in January this year signed a concession agreement with Cidco to create a special purpose vehicle, NMIAL, for developing the new airport.

The initial concession period is 30 years from the appointed date, which is extendable for a further 10 years.

GVK through its subsidiary, Mumbai International Airport (MIAL), holds 74 per cent stake in NMIAL, while Cidco, the town planning authority, holds the balance 26 per cent.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Navi Mumbai AirportMaharashtra chief minister Prithviraj Chavan
RELATED NEWS
L&T Construction bags contract for Navi Mumbai Airport L&T Construction bags contract for Navi Mumbai Airport
Navi Mumbai airport to be operationalised by 2021-22: Minister Navi Mumbai airport to be operationalised by 2021-22: Minister
'New tariff model risky for greenfield airport developers' 'New tariff model risky for greenfield airport developers'
Virgin Hyperloop One signs pact with India for broad hyperloop framework Virgin Hyperloop One signs pact with India for broad hyperloop framework
GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid GVK outbids GMR Infrastructure; wins Navi Mumbai International Airport project bid

LATEST NEWS

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

Life Insurance Coverage Calculator: Simple cover calculation in just 3 steps - EXPLAINED

Announcement LIVE: IIT JEE Main 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

Framework Agreement! India Grid Trust inks largest transmission deal with Sterlite Power

Listing facilitation! Ahead of LIC IPO, authorised capital boost of Rs 25,000 crores - All you need to know

Rakesh Jhunjhunwala stocks: This Big Bull-owned MULTIBAGGER has delivered more than 42 pct in less than two month

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

West Bengal Elections: PM Narendra Modi launches blistering attack on Mamata Banerjee - Top quotes

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved