Mumbai International Airport (MIAL), run by India-based company GVK Power & Infrastructure, has won a bid to construct the Navi Mumbai International Airport (NMIA) in Mumbai, India.

MIAL will be responsible for constructing, developing and operating the new greenfield airport in Mumbai.

The contract to develop the Rs160bn ($2.38bn) airport will be awarded to MIAL nearly two decades after the project was first suggested by the state government, reported Hindustan Times.

MIAL and GMR Infrastructure were the only two competitors to have participated in the bidding process conducted by the City and Industrial Development Corporation of Maharashtra (CIDCO).

"We remain committed to creating, designing and managing yet another state-of-the-art airport, and deliver a world-class gateway from Navi Mumbai to the world."

GVK chairman and managing director G.V.K. Reddy was quoted by Livemint as saying: “We remain committed to creating, designing and managing yet another state-of-the-art airport, and deliver a world-class gateway from Navi Mumbai to the world.

“We look forward to working with the State government, CIDCO and all other stakeholders for the successful implementation of this exciting and challenging project.”

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Once the first phase of the airport project is operational in 2019, NMIA is expected to handle ten million passengers annually.

After it reaches full capacity, the airport is expected to handle 60 million passengers each year by 2030 and will reduce the passenger traffic burden on Chhatrapati Shivaji International Airport (CSIA).

However, MIAL is yet to receive an official communication from CIDCO, which is expected after the completion of post-bidding formalities with the Government of Maharashtra.