Maharashtra govt approves ownership change of Navi Mumbai airport

The state government on Wednesday approved the change of ownership of the concessionaire of Navi Mumbai International Airport (NMIA)

The state government on Wednesday approved the change of ownership of the concessionaire of Navi Mumbai International Airport (NMIA). The GVK Group-led Mumbai International Airport Limited (MIAL) was constructing the NMIA, which was taken over by Adani Airport Holdings, and thus required the state government’s approval. The decision was taken in the state cabinet meeting following a recommendation made by the project control and implementation committee headed by the chief secretary Sitaram Kunte, the officials said.

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Cidco, the nodal agency for the project, had awarded the contract for construction of the airport in October 2017 to M/s GVK-led consortium—Mumbai International Airport Limited.

However, Adani Group recently acquired GVK Airport Developers Limited’s 50.50% stake. This change in ownership has been approved by the Directorate of Civil Aviation (DGCA), Airport Authority of India (AAI), Securities and Exchange Board of India (SEBI), Competition Commission of India. The board of directors of Cidco too have approved the change in ownership, said a senior official privy to the development.

The first phase of the much-delayed Navi Mumbai airport project is expected to be completed in 2023. The ₹16,000-crore project is said to be one of the world’s largest greenfield airports with two parallel runways of 3,700 metres and full-length taxiways that are 1,550 metres apart.