India-based infrastructure firm Gayatri Projects has won an order worth INR7bn ($103.6M) from City and Industrial Development Corporation of Maharashtra (CDICO) for the Navi Mumbai airport.
The scope of the work includes the development of land for the Mumbai International Airport Package-III project.
Gayatri Projects said in a stock exchange filing: "The construction and development of airports will prove to be a major source of business for infrastructure companies, given that the Indian aviation sector is likely to see investments of over $120bn for the development of airport infrastructure and aviation navigation services over the next decade."
According to the company, the project is in line with the management’s decision to follow an asset-light model and will further strengthen its position in the Indian construction market.
