Navi Mumbai International Airport Project achieves financial closure

GVK Power has achieved the financial closure on schedule for the proposed Navi Mumbai Airport Project. This mile stone has paved the way for the construction and completion of the first phase of the project.

YES Bank Ltd is the lead bank and mandate lead manager for Phase I and Phase II of the Navi Mumbai Airport project.

Navi Mumbai International Airport Pvt Ltd is the special purpose vehicle (SPV) for the execution of the new greenfield airport project. This is the step down subsidiary that has achieved financial closure for the project.