India's GVK wins bid to develop second Mumbai airport

GVK Power & Infrastructure

13/02/2017 10:31

MUMBAI, Feb 13 (Reuters) - India's GVK  GVKP.NS , which 
operates the airport in financial capital Mumbai, has won a bid 
to develop a new airport outside the city to ease congestion and 
cater to surging demand. 
    GVK outbid GMR Infrastructure Ltd  GMRI.NS  - the operator 
of the airport in national capital New Delhi - to develop the 
160 billion-rupee ($2.4 billion) Navi Mumbai airport, Mohan 
Ninawe, a spokesman for City and Industrial Development Corp. of 
Maharashtra (CIDCO), which had called the bids, told Reuters. 
    The new airport, first proposed in 1997 and approved by the 
government in 2007 is expected to be operational in 2019. 
($1 = 67.0200 Indian rupees) 
 
 (Reporting by Rajendra Jadhav; Editing by Biju Dwarakanath) 
 ((rajendra.jadhav@thomsonreuters.com; +91-22-6180-7153 ; 
Reuters Messaging: 
rajendra.jadhav.thomsonreuters.com@reuters.net)) 
 
Keywords: GVK AIRPORT DEV MUMBAI/AIRPORT