Industry sources said that the entire MIAL project is a very dynamic one and plans have been improved constantly. “There appears to be more clarity on the development now and hence the advisers are going to the market with it. In fact, roadshows for the same are already on not just in India but a few international markets as well,” the source said.
While all this is being done and various aspects of the project being addressed, MIAL along with the IPC is confident that the bidding process will be launched very soon. “I think sometime in January or first quarter of the coming calendar year, there will be a proper roll-out where expression of interest (EoI) will be invited followed by a professionally managed selection process. Thereafter awarding of the sites to successful bidders done. The entire process for MIAL project will be exactly like it was done for the hospitality district at Delhi International Airport Ltd (DIAL),” the source said.
MIAL, a joint venture company owned by the GVK led consortium (holding 74%) and Airports Authority of India (holding 26%), was formed March 2006 to manage and develop the Mumbai airport. Earmarking of sites for hotel projects is also part of the airport development plan.
A DNA Money report dated December 12, 2009 stated that 8,000 hotel rooms across 14 new hotels are likely to come up in the vicinity of the Mumbai international airport under the plan to set up a hospitality district by the airport operator. The said information could not be independently verified from MIAL.
The bidding process however, seems to have got delayed by almost a year as it was scheduled to be completed sometime early 2010. Elucidating reasons for the delay, industry sources familiar with the development said the project was being fine tuned and all the sites were being worked up on over the past several months.
“It's a complicated process considering the government is involved and encroachments had to be cleared. In fact, the land parcels are very fragment and there was need to have a master plan super imposed. Besides, some land parcels had to be taken out as certain infrastructure developments are being pursued on those sites. The entire master plan had to be realigned, which I'm told has been done and it's just the last mile connectivity that is currently being worked upon,” said the source.
The source also said that all the gaps in terms of infrastructure near the airport are addressed. Certain missing components like retail, business hotel, other categories of accommodations including serviced apartments, related services like a business center, a health club etc, are being addressed as well. "It's a very comprehensive plan to look at long-term needs but hotels will certainly be a major component. All other facilities will be more of complementary usages,” the source added.
With new airport coming up in Navi Mumbai, concerns are being expressed that the response for the MIAL project from the potential bidders may not be as per expectations. However, the Navi Mumbai airport is still another 7 to 10 years ahead and Mumbai airport continues to act as a critical gateway. Thus, we will to wait and watch the final outcome as and when the bidding process begins and sites get awarded to successful bidders. Till then keep a close watch on this blog for updates.
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