NAVI MUM­BAI AIR­PORT PROJECT

SP's Airbuz - - News Briefs -

The GVK-led con­sor­tium, which is de­vel­op­ing the Navi Mum­bai In­ter­na­tional Air­port (NMIA), is in talks with banks to raise around 135 bil­lion to fund its sec­ond-phase ex­pan­sion plan. Ac­cord­ing to sources in the bank­ing in­dus­try, the bankers in­volved are eval­u­at­ing a pro­posal for this big-ticket in­fra­struc­ture lend­ing. “State Bank of In­dia is eval­u­at­ing the pro­posal and based on the out­come, sev­eral other pub­lic sec­tor banks are likely to par­tic­i­pate,” a se­nior bank­ing of­fi­cial said. How­ever, it could not be as­cer­tained as to how many banks will be a part of this con­sor­tium. NMIA has al­ready an­nounced fi­nan­cial clo­sure for the con­struc­tion of the first phase of the Green­field project. The com­pany said Yes Bank would be the lead bank in this phase. NMIAL is a pub­lic-pri­vate part­ner­ship ven­ture in which GVK-led Mum­bai In­ter­na­tional Air­port (MIAL), which op­er­ates the air­port in the city, has a 74 per cent stake. MIAL’s share­hold­ers in­clude GVK In­dus­tries, Air­ports Com­pany South Africa and Bid­vest. City and In­dus­trial De­vel­op­ment Cor­po­ra­tion of Ma­ha­rash­tra holds the re­main­ing 26 per cent in the project.

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