The GVK-led Mumbai International Airport (P) Ltd., (MIAL) was handed over the Letter of Award (LOA) today from CIDCO, the nodal agency of the Government of Maharashtra for the Navi Mumbai International Airport.
In February 2017, MIAL was declared the winning bidder for the Greenfield airport that will be built on 1,160 hectares in a Public Private Partnership (PPP) mode with CIDCO. MIAL will hold a 74% stake while the remaining 26% will be with CIDCO.
GVK Reddy, Executive Chairman MIAL and founder Chairman of GVK, said, "In collaboration with CIDCO, the Government of Maharashtra and the Government of India, we are confident of providing yet another landmark airport for the city of Mumbai."
GVK Mumbai International Airport Pvt. Ltd (MIAL) is a Public Private Partnership joint venture between a GVK-led consortium and the Airports Authority of India (AAl).
GVK MIAL was awarded the mandate for operating and modernizing Chhatrapati Shivaji International Airport, Mumbai (CSIA). Through this transformational initiative, GVK MIAL has made CSIA one of the world's best airports, which consistently delights customers besides being the pride of Mumbai.