GVK Wins Bid To Develop Second Mumbai Airport

Mumbai: Conglomerate GVK named after founder Gunupati Venkata Krishna Reddy, which operates the airport in financial capital Mumbai, has won a bid to develop a new airport outside the city to ease congestion and cater to surging demand.

GVK outbid GMR Infrastructure Ltd - the operator of the airport in New Delhi - to develop the 160 billion-rupee Navi Mumbai airport, Mohan Ninawe, a spokesman for City and Industrial Development Corp. of Maharashtra (CIDCO), which had called the bids, told Reuters.

The new airport, first proposed in 1997 and approved by the government in 2007 is expected to be operational in 2019.