The MoCA has granted in-principle approval for the request for proposal (RfP) document for the Rs 150 billion Navi Mumbai International Airport project. The RfP will be issued to four shortlisted bidders (the GMR Group, GVK-led Mumbai International Airport Limited, Hiranandani Developers along with Zurich Airport, and Mia Infrastructure with Tata Realty and Infrastructure) by January 15, 2016. These four are required to submit financial bids within four months. The developer of the project will be selected by June 2016. Meanwhile, an annual concession fee will be levied on the developer and operator of the proposed greenfield airport before the start of operations. The fee will range from Rs 50 million in the first year to Rs 12,500 million per year from the 40th year of operations. Navi Mumbai airport is expected to commence operations from end-2019.