Navi Mumbai airport project approved
PM News Bureau
The Maharashtra government has approved the Navi Mumbai
airport being developed on PPP basis. Estimated to cost Rs 10,000 crore, the
airport will come up on 2,000 hectares of land near Panvel. City & Industrial
Development Corporation of Maharashtra (Cidco) and Airports Authority of India
will together hold 26 per cent equity stake while the private sector developer
will be the majority shareholder with 74 per cent.
Cidco will start the bidding process once Louis Berger, the project consultant,
completes the detailed project report. By current thinking, global bids for the
airport developer will be invited in the next four-five months.
Coming up in four phases, the project will require Rs 4,200 crore in phase-I, Rs
1,896 crore and Rs 1,600 crore in the second and third stage, and Rs 2,272 crore
in the final phase. Of the 2,000 hectares, 1,150 is owned by Cidco, 443 by the
government and remaining 457 hectares will be acquired by private parties.
The approval for this project was delayed due to various hurdles pointed by the
ministry of environment and forests, one of them being more than 30 per cent of
the entire proposed land fell under the coastal regulatory zone (CRZ). The
airport, spreading across seven villages, will also displace around 4,000
families; and project affected people expressed discontent over the proposed
compensation. The state government is negotiating with the Centre for relaxing
the coastal zone management rules, and Cidco is working out a suitable
compensation package. The proposed budget also includes the cost of shifting
high-voltage transmission lines, and diversions to the course of two rivers,
Ulwe and Gadhi.
Likely to be operational by 2012, the airport will initially handle 10 million
passengers in phase-I, gradually moving to 40 million passengers by 2030.
[July 14-20, 2008]