In a significant move that has paved way for the State CIDCO to initiate the bidding process for the development of the Navi Mumbai International Airport (NMIA), the Ministry of Civil Aviation on Monday approved the regulatory regime of ‘shared till’ for the country’s largest Greenfield airport, along the lines of Delhi and Mumbai airports.
The Rs15,000-crore NMIA – located in adjoining Raigad district – is not only expected to change the face of Navi Mumbai, but it will also support the rapidly growing air travel needs of the people in Mumbai Metropolitan Region, where there is already busy Chhatrapati Shivaji International Airport.
The Civil Aviation Ministry gave a formal approval to the “shared-till” regulatory regime for the NMIA, following the direct intervention of Maharashtra Chief Minister Devendra Fadnavis, who had taken up the issue with the Centre shortly after taking over the reins of Maharashtra in early November.
The ‘shared till’ approach allows the operator to retain a percentage of non-aeronautical revenues — from retail shops/ concessions in terminal building, parking charges from the airport and enhances long term project viability and hence attractive for private participation by concessionaire on PPP Mode.
The NMIA is expected to absorb annually 10 million passengers in its first operational year, doubling to 20 million by 2020 followed by 30 million passengers in 2025 and ultimately 40 million by 2030.