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By June, the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) hopes to resolve all the outstanding land issues that are coming in the way of the proposed Navi Mumbai airport project, said Sanjay Bhatia, Vice-Chairman and Managing Director of CIDCO, on Wednesday.
Lead developerCIDCO is the lead project developer and has adopted a two-stage bidding process for the project, using a Public Private Partnership model on Design, Build, Finance, Operate and Transfer basis.
Interacting with media persons after issuing the Request for Qualification (RFQ) for the project, Bhatia said 16 villages have come decided to accept our compensation package, he said.
By June 18, all companies keen to bid for the project should submit their RFQ related documents, Bhatia added.
The RFQ has outlined that CIDCO wants to develop the airport in four phases.
The estimated project cost of the first and second phase would be Rs 9,500 crore. The cost of pre-development works is estimated to be Rs 2,358 crore, which includes levelling of the land and shifting of high tension power lines.
The costs incurred by CIDCO for the works shall be considered as an interest free loan provided to the airport developer.
The RFQ document said that the net worth for the developer should be at least Rs 2,375 crore at the close of the preceding financial year.
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