Aviation Fuel Facility project at Mumbai Airport Signing of Share Holders Agreement and Share Purchase Agreement to form JVC- Mumbai Aviation Fuel Farm Facilities Ltd. (MAFFFL)
Mumbai Aviation Fuel Farm Facility Private Ltd. (MAFFFL) has taken off with all four stakeholders -- Bharat Petroleum Corporation Ltd., Hindustan Petroleum Corporation Ltd, Indian Oil Corporation Ltd. and Mumbai International Airport Ltd. with 25% shareholding each in the JVC -- agreeing to put in an aggregate equity contribution of Rs.238.88 crore. The overall project cost is estimated at Rs.653.08 crore, with equity contribution by each member at Rs.59.72 crore. The integrated hydrant project is likely to be completed by MAFFFL within three years.