GVK-led MIAL emerges as successful bidder for developing Navi Mumbai airport

GVK Power & Infrastructure Limited, which operates the Mumbai and Bengaluru airports, has emerged as the successful bidder for building, developing and operating the Navi Mumbai International Airport. GVK, through Mumbai International Airport Limited (MIAL), has offered to share 12.6 per cent of the annual gross revenue share of the new airport with the City and Industrial Development Corporation of Maharashtra, higher than the 10.44 per cent offered by GMR Infrastructure. Phase I of the airport is likely to be operational by 2019 and  is expected to handle 10 million passengers annually. Though four bidders – GMR Airports Limited, MIAL, MIA Infrastructure Limited (a joint venture of Tata Realty and VINCI Airport Concessions) and Voluptas Developers Private Limited (a consortium of Hiranandani Group and Zurich Airports) – prequalified at bidding stage since in May 2015, only two of them submitted financial bids in the process that started on February 5, 2017.