Last week, the GVK, which operates the Chhatrapati Shivaji InternationalAirport in Mumbai, won the bid by offering 12.60 per cent of the annual gross revenue generated by the airport to the City and Industrial Development Corporation (CIDCO), higher than the 10.44 per cent offered by GMR Airports Limited, which operates the Delhi International Airport.

 

Officials from the CIDCO said the Cabinet will soon take a decision about awarding the project to the successful bidder. “Since the code of conduct is likely to get over on February 23, the cabinet decision will happen anytime before the budget session of the state assembly,” said an official.

 

The official added that the financial closure of the bidding process will happen within 180 days.

 

“The financial closure is essentially about how the bidder will raise the finances for the project. But, we hope that it will happen in the next few months,” added the official.CIDCO officials said they believe a single runway can be made operationalby 2019 despite the delays and the multiple extensions that had to be made for the bid submissions.

 

Sources claimed that the pre-monsoon work of the project will begin after the cabinet decision. “The bidder is expected carry out the planning of the work, draw an outline of commencing the work with others. While some pre-monsoon work will take place, the full fledged work of the project will kick-off post monsoon,” added the source.

 

A spokesperson from the GVK said it would require at least three months of time to chalk out a detailed plan about the work to be carried out in the project.