The Navi Mumbai International Airport (NMIA) project has achieved another significant milestone in its progress as the City and Industrial Development Corporation (CIDCO) evicted all structures in the project area.

CIDCO has handed over the cleared land to the airport's concessionaire and is working on rehabilitating over 5,000 families affected by the clearance.

"CIDCO has successfully completed the important milestones of the airport project till date due to the cooperation of the project affected people of the Navi Mumbai International Airport. The work of Navi Mumbai International Airport is proceeding as per the scheduled timelines and the project is on track," Sanjay Mukherjee, vice-chairman and managing director, CIDCO, said, reports Hindustan Times.

"For the rehabilitation of those affected by the airport project, CIDCO is developing Pushpak Nagar, a complete rehabilitation and resettlement area with all the physical, social and cultural infrastructure near the airport area," Mukherjee added.

In March this year, Navi Mumbai International Airport Private Ltd (NMIAL), a subsidiary of Adani Enterprises Ltd (AEL), has achieved financial closure for the greenfield international airport project at Navi Mumbai, Maharashtra, with the execution of the financing documents with the State Bank of India (SBI).

The SBI has underwritten the entire debt requirement of Rs 12,770 crore for the NMIA project.

NMIA project was taken over after the acquisition of Mumbai International Airport Ltd (MIAL) by the Adani Group through Adani Airport Holdings Ltd (AAHL) in July 2021.

The AAHL, a wholly-owned subsidiary of Adani Enterprises Ltd (AEHL), now has a majority stake in the new airport, with 26 per cent belonging to the AAI.

The Navi Mumbai International Airport is coming up on 1,160 hectares of land. It is expected to become operational by 2023 or 2024 and is poised to become the country's leading airport over the next decade for both domestic and international flights.