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NMIA project cost escalates

Aviation & Airports
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September 1, 2014September 1, 2014
NMIA project cost escalates

The cost of the Navi Mumbai International Airport (NMIA) project has escalated by around Rs 400 crore due to various delays. The cost of land development increased from Rs 2,300 crore to Rs 2,700 crore. The amount will be spent on developing the 1,160 hectares. Even CIDCO´s share of the cost has jumped from Rs 1,400 crore to Rs 1,715 crore. The strategic partner´s share, that was pegged at Rs 900 crore, has increased to Rs 1,000 crore.

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