The Phase I cost was projected at USD960 million and the total cost USD1.6 billion but projected land acquisition costs alone have reportedly reached INR170 billion (USD2989 million). Nov-2017. India's Ministry of Civil Aviation stated that any extension beyond 40 years and before 60 years of operation will be done using a bidding process, and the existing promoter has the right of first refusal. Pre-qualified bidders are now expected to be announced by the end of Dec-2014. The Greenfield Navi Mumbai International Airport (NMIA) has missed a few of its completion deadlines since the project was first proposed. Jun-2017. Selection of a concessionaire on public private partnership basis is to be finalised by Dec-2016. CAPA Membership provides exclusive access to the information you need to monitor the competitive landscape and guide your organisation towards success. 29-Apr-2017. The inordinate delay in its completion notwithstanding, the NMIAL is likely to significantly change the region’s property market dynamics once the project sees the light of the day. As per government estimates in 2013, it would require Rs 160 billion to complete the project. GMR, GVK, Hiranandani groups and Tatas, are expected amongst bidders to place bids for Request For Qualification (RFQ). The airport was being planned to handle 10 million passengers in the phase one, but the terminal will now be built to handle 20 million. Navi Mumbai’s public private partnership project is expected to cost USD2.5 billion. and Vinci Concessions (q.v.) )-led Mumbai International Airport (MIAL) and an Hiranandani Developers-Zurich Airport (q.v.) Nothing contained in the articles should be construed as business, legal, tax, accounting, investment or other advice or as an advertisement or promotion of any project or developer or locality. Despite the fact that nearly 23 years have passed since the idea to build a second airport in the Mumbai Metropolitan Region (MMR) was mooted, agencies responsible for building the Navi Mumbai International Airport Limited (NMIAL) have failed to start the real work on account of legal, environmental and land-related hurdles. City and Industrial Development Corporation of Maharashtra (CIDCO) vice chairman and MD Sanjay Bhatia said the acquisition of 261 hectares for the Navi Mumbai International Airport project is expected to be complete in the next two months. The Government of Maharashtra (GOM) approved the construction of the new airport development in July 2008 and appointed the City and Industrial Development Corporation of Maharashtra (CIDCO) as the nodal agency for implementation of the NMIA project. Blasting of hills, levelling for ground and diversion of the Ulwe river for the project has already begun. Land clearing and non-construction preparatory works for the development are expected to start within six months. The Greenfield Navi Mumbai International Airport (NMIA) has missed a few of its completion deadlines since the project was first proposed. Maharashtra's Chief Minister Devendra Fadnavis reported phase one development of Navi Mumbai International Airport is expected to be completed and commissioned by mid 2020. and MIA Infrastructure (q.v. The company stated: "Gayatri Projects has made inroads into the construction of airports by bagging a INR7 billion (USD104 million) contract as part of the larger Navi Mumbai International Airport from City and Industrial Development Corporation of Maharashtra.”. It is anticipated the winning bid will be selected by Dec-2015. CIDCO expects to complete land acquisition for the project in mid Jan-2015. It’s ideal for industry analysts, managers and executives who need a snapshot of the latest news, analysis and data from our global team, with the ability to export or email PDF reports in one click. The airport is being developed on a public-private partnership basis between government agency CIDCO and GVK-Mumbai International Airport Limited (MIAL). The operational areas include a runway, terminal building and ATC tower. Aug-2015. India’s Ministry of Civil Aviation (MOCA) announced City and Industrial Development Corporation of Maharashtra (CIDCO) will provide the developer and operator of the proposed Navi Mumbai International Airport project an interest free-loan worth INR3000 crore (USD451.6 million). The High Court of Bombay dismissed a petition by local residents calling for the suspension of land acquisition for the Navi Mumbai International Airport project pending changes to compensation. The users should exercise due caution and/or seek independent advice before they make any decision or take any action on the basis of such information or other contents. Explore more on Navi Mumbai Airport at Dnaindia.com. India's Ministry of Civil Aviation prioritised completion of operational areas of Navi Mumbai Airport by 2019. Once operations start, the NMIAL would create job opportunities for as many as four lakh people. The project is set to complete in 2021. Maharashtra seeks investment from Abu Dhabi, in infra projects. Nov-2014. City and Industrial Development Corporation (CIDCO) is extending the request for proposal for bids to operate Navi Mumbai Airport to Dec-2016 or Jan-2017. The tender for the pre-development work was scheduled to be opened on 05-Jan-2016. I have twice done aerial surveys of the place, but things are still the same. Upon its completion, Mumbai will be the first city in India to have more than one airport. CIDCO chairman Pramod Hindurao said: “We are not looking at it as a political issue. Impact of Navi Mumbai International Airport on property prices, History of Navi Mumbai International Airport, Impact of Navi Mumbai airport on property market, Average price in top* Navi Mumbai localities, Navi Mumbai airport impact on environment, Navi Mumbai airport impact on property market, Griha Pravesh Muhurat 2020: Best dates for a house warming ceremony. India’s Ministry of Home Affairs rejected Hiranandani Developers and Zurich Airport's security clearance, with the companies being one of the four shortlisted companies to bid for the proposed Navi Mumbai International Airport. Housing.com does not offer any such advice. CIDCO extended the request for qualifications (RFQ) deadline for the development contract for Navi Mumbai International Airport from 28-Jun-2014 to 31-Jul-2014. 29-Jun-2016. 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