L&T Construction awarded contract to build Navi Mumbai International Airport
L&T Construction, the construction subsidiary of technology, engineering, construction, manufacturing and financial services conglomerate Larsen & Toubro, has won an Engineering, Procurement and Construction (EPC) contract from Navi Mumbai International Airport Private Limited (NMIAPL) for the Greenfield Navi Mumbai International Airport.
NMIAPL is a step-down subsidiary of Indian conglomerate GVK, which has operations across diverse sectors, including energy, airports, transportation, resources, hospitality and life sciences.
In a BSE filing, GVK said that the contract has been awarded to the Transportation Infrastructure and Buildings and Factories businesses of L&T Construction. However, the deal size and project completion deadline has not been disclosed.
GVK won the bid to construct the Navi Mumbai airport in 2017 and the concession agreement for the project was signed in January 2018. A tender floated in August previous year to select the EPC contractor.
In June, L&T was selected by the board of planning authority, City and Industrial Development Corporation for the job. The formal agreement was signed on Saturday (31 August) by GVK chairman GVK Reddy and SN Subrahmanyan, L&T’s managing director.
The key development spectrum covers cut and fill works, terminal works including departure and arrival forecourts, airfield development works that include a 3,700-metre-long runway, apron systems, taxiway systems, airfield ground lighting and other facilities, landside facilities covering roads, multilevel car parking, utilities and support facilities.
The passenger terminal building that has been designed with complex forms by the renowned Zaha Hadid Architects is being developed to initially handle a capacity of 10 million passengers a year. The project will subsequently be enhanced to handle 20 MPA.
Navi Mumbai airport has been plagued by delays and cost escalation over issues related to land acquisition and environment issues.
The first phase project cost is pegged at over Rs 14,000 crore and will be funded through equity investment and Rs 10,300-crore long-term debt. While the state hopes the airport will be ready by mid-2020, CRISIL in its report in May-end had said operations are expected to start in 2023.
Biltrax Construction Data is tracking the Navi Mumbai International Airport project on their technology platform for their Clients.
For more information reach out to us at (+91) 90826 75827, email@example.com