Virendra D Mhaiskar-led IRB Infrastructure’s project Sindhudurg Airport nears completion

Published: 31st August 2018 05:37 PM  |   Last Updated: 01st September 2018 01:23 PM   |  A+A-

By Online MI

India’s first greenfield airport, the Sindhudurg Airport is in its final construction phase. The project is being maintained by IRB Infrastructure. Located about 170 Km north of India’s party capital, Goa, the construction cost of the airport stands at Rs 300 crore. The cost is lower than Rs 520 crore, which was estimated at the time of signing the concession agreement with Maharashtra Industrial Development Corporation (MIDC).

The airport will open by October 18, and will give travelers an easy access to the scenic Malvan region in Maharashtra. Located at Parule-Chipi in Sindhudurg, the project is being built by IRB Infrastructure under the guidance of Chairman and MD, Virendra D Mhaiskar.

Under a 95 year concession with MIDC, it is being constructed on design-build-finance-operate-transfer (DBFOT) basis. The airport, which is being constructed to handle a maximum of 800 passengers during peak hours, is under consideration to become a cargo hub. Talks between the aviation ministry and IRB Infrastructure are on for the project. The airport will most likely be accessible to airlines by September.

Currently, IRB Infrastructure is in discussion with various airlines to stabilize its revenue model. The process could take around 6-8 months. Virendra D Mhaiskar, IRB Infrastructure CMD mentioned, “We have been talking to some of them and they have shown interest. It may take a couple of years to stabilise, to improve connectivity, and for more airlines to find it sensible to operate on this route.” The 14th airport in the state of Maharashtra, it falls under the state government’s plan to provide regional connectivity to smaller cities.

A review meeting of the under-construction airports also took place. It was chaired by civil aviation minister Suresh Prabhu. Once completed, it will serve both domestic and international charter flights. The airport has a 2.5 Km runway.

In a statement made by Suresh Prabhu, he mentioned that the Sindhudurg Airport will provide connectivity to multiple regions including Konkan, Goa, north Karnataka and western Maharashtra. It will make air travel more affordable for the common man, and also boost tourism in these areas, which is the underlying goal of the government.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is India’s leading and one of the largest private roads and highways infrastructure developers, with presence in BOT and HAM space.

The Company has a portfolio of 17 owned projects and 7 projects under O&M contracts as a Project manager for IRB InvIT. Of the 17 owned projects, 7 projects are under operational BOT space; 3 under HAM space; 4 projects under Tolling & Construction, another 2 projects under advanced stages of construction and 1 project under development stage. The Company has successfully completed 7 Concessions till date.

IRB Group, in the 20th year of its journey towards excellence since inception, has achieved an unmatchable milestone of having portfolio of 12,800 lane Kms, including ~ 20% share in India’s ambitious Golden Quadrilateral project; which is largest by any private highways infrastructure developers in India.

 

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