City & Industrial Development Corporation of Maharashtra has reported progress on its proposed International Airport project in Navi Mumbai. The project is estimated to cost Rs.160000 million. As of April 2016, the state government has given its assent to CIDCO to issue a Request for Proposal (RfP) for the proposed Navi Mumbai International airport. Three consortiums namely GMR, GVK and Tata Realty-MIA Infra have been shortlisted for the development and these companies are expected to submit financial bids by October 2016. The first phase with a capacity to handle 10 million passengers is expected to be completed in 2019.