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GVKPIL signs deal for Navi Mumbai international airport
Mumbai, Jan 8 (IANS) The GVK Power & Infrastructure Ltd (GVKPIL) on Monday signed the Concession Agreement with City and Industrial Development Corporation for the upcoming Rs 16,000-crore Navi Mumbai International project here, an official said.
The agreement was signed through the creation of a special purpose vehicle — Navi Mumbai International Airport Pvt Ltd (NMIAL) — with CIDCO, the nodal authority of the Maharashtra government, overseeing the project implementation.
The GVKPIL, through its subsidiary, Mumbai International Airport Pvt Ltd, holds 74 per cent equity of NMIAL, while CIDCO holds the remaining 26 per cent.
The initial concession period is 30 years from the appointed date which is extendable by another 10 years and the agreement was inked in the presence of Chief Minister Devendra Fadnavis by MIAL Executive Chairman G.V.K. Reddy and CIDCO Vice-Chairman and Managing Director Bhushan Gagrani.
“We are delighted that GVK has got the opportunity to yet again display its technical and managerial prowess in the airports sector after having created the award-winning Mumbai Airport, for developing and managing the Navi Mumbai international airport,” Reddy said on the occasion.
He said with the continued support of the Central and state governments, besides CIDCO and all other stakeholders, the company was confident of creating and delivering the much-needed second airport for the twin cities of Mumbai and Navi Mumbai.
The GVKPIL’s subsidiary, MIAL, was declared the successful bidder for the Navi Mumbai international airport project in February 2017 and received the Letter of Award from CIDCO on October 25, last year.
The NMIAL, a greenfield airport, will come up in the PPP mode on 1,160 hectares land in adjoining Navi Mumbai, across the harbour, with the advantage of the upcoming Mumbai Trans Harbour Link.
CIDCO, which holds 26 per cent stake, will foot the pre-development expenses which will be later recovered from GVK, besides getting a 12.6 per cent share in the annual revenue from the mega-project.
The GVK, which currently manages the Mumbai International Airport Ltd, had submitted the highest revenue sharing model of 12.6 per cent per annum over its sole closest competitor GMR (which manages the New Delhi International Airport) which had quoted a figure of 10.44 per cent.
With two major airports under its belt, the GVK plans to soar and develop its airports business globally, Reddy had earlier said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.