GVK to spend Rs 8,500 crore on Navi Mumbai airport

Hyderabad: The GVK Group, which is in the process of developing Navi Mumbai International Airport, will be spending Rs 8,500 crore in the first phase to cater to 10 million passengers per annum, Chairman of the infra major G. V. K. Reddy said here on Wednesday.

The airport is a public-private partnership venture in which the GVK-led Mumbai International Airport has a 74 per cent stake with CIDCO, the Maharashtra government’s nodal agency for the project, holding the remaining 26 per cent.