GMR Airports, Mumbai International Airport Ltd (MIAL), Hiranandani Developers along with Zurich Airport Developers, and MIA Infrastructure Pvt Ltd along with Tata Realty have been short listed by The City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) for constructing the Navi Mumbai airport.

While nine national and international consortiums had expressed interest, these four have qualified for submitting the financial bids.

These four developers will submit their financial bids by August and CIDCO will select the final bidder by October. The first phase of the airport is expected to be completed by 2019 for 10 million passenger capacity.

MIAL, a joint venture of GVK Group, is already running the Mumbai airport. It has first right of refusal over the Navi Mumbai project. If another developer outbids MIAL and if the bid is within 10 per cent of the MIAL’s bid then MIAL can match the bid and become the airport developer.

CIDCO, a Maharashtra Government undertaking, is currently the lead project developer. The airport requires 2,268 hectares out of which 1,580 hectares is already in CIDCO’s possession and 688 hectares are being acquired from local villagers and land holders.

Sanjay Bhatia, Vice-Chairman of CIDCO, in a recent interview to BusinessLine had said that the Centre had given a clearance for a ‘shared till’ revenue model, which allows the airport operator to retain a 70 per cent of non-aeronautical revenues, which are generated from activities such as retail shops and long-term concessions provided to customs duty free shop operators.

This model is the main attraction of the project, he said.

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