Videocon Group announced on Wednesday it would bid for the greenfield airport at Navi Mumbai, while committing Rs 3,000 crore as the initial investment in the aviation sector.
"We will be bidding for the Navi Mumbai airport and we have also shortlisted our foreign collaborators for the same," Videocon Chairman Venugopal N Dhoot told reporters on the sidelines of an Assocham function in New Delhi.
The new company would be named Videocon Aviation Limited and the parent firm would make an investment of Rs 100 crore (Rs 1 billion) in the Special Purpose Vehicle and rest of the funds would be generated from FIIs, public and foreign collaborators,
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