GMR & Tata Realty to keep off Navi Mumbai airport bid

Moneycontrol BureauWhen bids for Navi Mumbai airport project open next week, GMR Group and Tata Realty will abstain from bidding for the Navi Mumbai airport project due to "onerous" bid conditions, Business Standard reported Wednesday. “We are not bidding on account of project implementation and execution challenges as well as onerous timelines and bid conditions,” a GMR Group spokesperson told the paper.The development leaves GVK-led Mumbai International Airport (MIAL) and Hiranandani Developers-Zurich Airport consortium in the fray for the Rs 16,000 crore project.Planning body City and Industrial Development Corporation (CIDCO) will hold a 26 percent stake in the Navi Mumbai airport project which will be developed through a public-private partnership.