The soon to be inaugurated Navi Mumbai International Airport (NMIA) is poised to become a major economic catalyst for the region, with expectations of generating nearly one lakh jobs, according to Mayur Shah, Managing Director of Marathon Nextgen.
Prime Minister Narendra Modi, during his two-day visit to Maharashtra, will inaugurate the airport's Phase 1 on October 8 around 3:30 p.m. This marks the third airport for the MMR region and is built at a cost of approximately Rs 19,650 crore.
Speaking on the potential of the project, Shah said, "In my opinion, nowhere in the world are such massive infrastructure projects are happening."
Highlighting the airport's impact on employment and urban development, Shah added, "This mega project, which has been long awaited, will create almost 1 lakh jobs in the region. It will drive the entire area's real estate development."
The NMIA, developed under a PublicāPrivate Partnership (PPP), spans 1160 hectares and is designed to handle up to 90 million passengers annually and 3.25 million metric tonnes of cargo. It will operate alongside Chhatrapati Shivaji Maharaj International Airport (CSMIA), helping to ease congestion and improve connectivity.
Shah also pointed to the upcoming high-speed rail link between the two airports, which he said would further enhance connectivity across Mumbai. "With the airport coming up, a lot of housing stock will emerge. We've already seen offices and financial centres likely to come up in the Panvel-Raigad region," he noted.
In addition to its scale, the airport has an Automated People Mover (APM) system for seamless terminal transfers, dedicated Sustainable Aviation Fuel (SAF) storage, solar power generation of 47 MW, and EV bus services. NMIA will also be the first airport in India to be connected via Water Taxi.
Looking ahead, Shah predicted a decade of robust growth, "In the next 10 years, there will be huge real estate, commercial, and all-round development of the region."
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories ā On NDTV Profit.
