As the Navi Mumbai International Airport (NMIA) nears its operational launch, the City and Industrial Development Corporation (CIDCO) has initiated the process of appointing a financial consultant to oversee and verify financial transactions with Navi Mumbai International Airport Pvt. Ltd. (NMIAL). To facilitate this, CIDCO has issued a Request for Proposal (RFP) for consultancy services to monitor financial dealings related to NMIA and other similar infrastructure projects.
NMIA is designed to accommodate 90 million passengers and handle 2.6 million tonnes of cargo annually. The first two phases, with a combined capacity of 20 million passengers and 0.8 million tonnes of cargo per year, are expected to be commissioned soon. Under the Concession Agreement, NMIAL is required to make several financial commitments to CIDCO, including an annual premium payment of 12.6% of its gross revenue.
Additionally, CIDCO will receive concession fees and other statutory payments from NMIAL. As a shareholder in the airport company, CIDCO is also responsible for verifying financial statements approved during board meetings. To ensure transparency and efficiency in financial oversight, CIDCO is seeking consultancy services that will monitor compliance with the Concession Agreement and other financial obligations. The appointed consultant will also provide financial oversight for similar CIDCO projects requiring such monitoring.
NMIA Set for Inauguration in April 2025
The Navi Mumbai International Airport is set to be inaugurated on April 17, 2025, with domestic flight operations expected to begin in the second week of May. The first commercial flight, an India A320 aircraft, successfully landed at NMIA on December 29, 2024, as part of pre-operational trials.
Earlier, on December 12, 2024, the Airports Authority of India’s (AAI) Flight Inspection Unit (FIU) validated the Precision Approach Path Indicator (PAPI) system, a critical safety feature that guides pilots during landings. The PAPI system, consisting of red and white lights perpendicular to the runway, ensures aircraft maintain the correct glide path. The validation process included extensive trials under both day and night conditions to ensure operational safety.
The NMIA project is expected to ease congestion at Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) by addressing the region’s growing air traffic demand. Residents of Navi Mumbai and surrounding areas have long awaited the airport’s operationalization, which is poised to boost the local economy, create jobs, and enhance regional connectivity.